Budget 2021: CBIC exempts Social Welfare Surcharge leviable on Crude or roughly trimmed, Agriculture Infrastructure, Development Cess on Gold and Silver [Read Notification]

The Central Board of Indirect Taxes and Customs (CBIC) exempted Social Welfare Surcharge leviable on Crude or roughly trimmed or Blocks Marble or travertine.

The Board further sought to exempt Social Welfare Surcharge leviable on Agriculture Infrastructure and Development Cess on Gold and Silver.

“The Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts all goods falling under headings 7106 and 7108 of the First Schedule of the Customs Tariff Act, 1975 (51 of 1975) when imported into India, from the whole of the Social Welfare Surcharge leviable on the Agriculture Infrastructure and Development Cess leviable under clause 115 of the Finance Bill, 2021 (15 of 2021) which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931) has the force of law,” the notification said.

The notifications shall come into force on the 2nd February, 2021.

To Read the full text of the Notification CLICK HERE

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