The Central Board of Indirect Taxes and Customs (CBIC) has notified the changes in Customs Duty Rate Notification with effect from January 1, 2022 to align it with HS 2022.
The new (seventh) edition of the Harmonized System (HS) nomenclature i.e., HS-2022, shall come into force from January 01, 2022. This edition has introduced significant changes to the Harmonized System with a total of 351 amendments at the six-digit level, covering a wide range of goods moving across borders.
As India is a party to the HS convention, necessary changes were brought.
No Customs Duty will be applicable on Components or parts, including engines, of aircraft of heading 8802 or 8806 (except Unmanned Aircraft used as Television camera, digital camera or video camera recorder) for manufacture of aircraft falling under heading 8802; for manufacture of parts of aircraft at (a), imported by Public Sector Units under the Ministry of Defence.
The Customs rate of 2.5% shall be payable on all goods except Unmanned Aircraft used as Television camera, digital camera or video camera recorder.
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