The Ministry of Finance issued Notification No. 50/2024-Customs dated December 30, 2024, revising Basic Customs Duty (BCD) and Agriculture Infrastructure and Development Cess (AIDC) rates across multiple product categories.
The revised tariff framework introduces significant changes in duties, particularly for agricultural products, industrial inputs, and luxury goods:
Essential Goods with Zero Duties:
● Meat of sheep/goats (02041000): BCD: 0.0%.
● Diammonium phosphate fertilizers (31053000): BCD: 0.0%, ensuring affordability for critical agricultural inputs.
Luxury and Non-Essential Goods:
● Cut flowers (06031100): A high duty of 42.9% discourages ornamental imports, promoting the domestic floriculture industry.
● Garlic (07032000): A steep 71.4% duty protects Indian farmers from cheap imports.
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Balanced Tariffs for Vegetables:
● Broccoli (07041000): A 12.9% duty balances support for domestic growers with controlled imports.
Minimal Duties for Industrial Inputs:
● Crude petroleum oils (27090010, 27090090): Nominal duty of Re. 0.20 per tonne, ensuring cost-efficiency for industrial and energy sectors.
Table 2 includes detailed duty rates for beverages, energy products, and processed foods, reflecting the government’s strategic approach to trade and industry development.
Essential Goods with Zero Duty:
● Meat of sheep/goats (02041000): Continues to attract zero duty, ensuring affordability for consumers.
● Fertilizers (31053000): Critical agricultural inputs like diammonium phosphate fertilizers remain duty-free to support farming.
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High Duties on Luxury and Non-Essential Goods:
● Cut Flowers (06031100): A 42.9% duty discourages ornamental flower imports, promoting local floriculture.
● Garlic (07032000): A steep 71.4% duty protects Indian farmers from cheap imports.
Support for Domestic Agriculture:
● Broccoli (07041000): The 12.9% duty supports Indian vegetable growers while allowing controlled imports.
● Virgin Olive Oil (15091000): The 35.0% duty safeguards local oil producers against international competition.
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Minimal Duty on Industrial Inputs:
● Crude Petroleum (27090010, 27090090): A nominal duty of Re. 0.20 per tonne ensures cost-effectiveness for energy and industrial production.
Encouraging Value Addition in Food Processing:
● Prepared Potatoes (20041000): A 15.0% duty supports local food processors by controlling imports.
For more tariff items duty rates, check out the notification attached below.
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