The Central Board of Indirect Taxes and Customs (CBIC) notified the effective rate of Basic Customs Duty which will be enforced from February 2, 2021.
The Government sought to amend the notification No. 50/2017- Customs, dated the 30th June, 2017.
Firstly, no Custom Duty will be applicable on Pulses other than Peas (Pisum sativum), Tur, Chickpeas, Kabuli Chana, Bengal Gram and Masoor (Lentils).
Secondly, the 15% of the standard rate of Custom Duty will be applicable on oil other than that of edible grade.
Thirdly, no Custom Duty will be applicable on tags, labels, stickers, belts, buttons, hangers or printed bags (whether made of polythene, polypropylene, PVC, high molecular or high density polyethylene), imported by bonafide exporters.
Fourthly, 5% Custom Duty will be applicable on the goods used in the printing of newspapers, namely newsprint and other uncoated paper conforming to the specifications of newsprint (other than its surface roughness).
Fifthly, 10% Custom Duty will be applicable on all goods other than those suitable for use in motor vehicles falling under heading 8702 or 8704; motor cars falling under heading 8703; and motorcycles falling under heading 8711.
Sixthly, 10% Customs Duty will be applicable on Gold or silver findings, which means a small component such as hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewelry in place.
Seventhly, 10% Custom Duty will be applicable on all goods other than SIM socket/other mechanical items (Metal) (7326 90 99) for cellular mobile phones.
Eighthly 2.5% of Custom Duty will be applicable on inputs, parts or sub-parts for use in the manufacturing of Printed Circuit Board Assembly (PCBA) (falling under tariff item 8507 90 90) of Lithium-ion battery and battery pack.
Ninthly, 5% Customs Duty will be applicable on Lithium-ion cells for use in the manufacture of battery or battery pack, other than those mentioned against S. Nos. 527A and 527B.
Tenthly, no Customs Duty will be applicable on the Components or parts, including engines, of aircraft of heading 8802 for the manufacture of aircraft falling under heading 8802 and for the manufacture of parts of aircraft at (a), imported by Public Sector Units under the Ministry of Defence
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