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«Government of India Ministry of Finance Department of Revenue Tax Research Unit ***** P. K. Mohanty Joint Secretary (TRU-I) Tel: 23092687, Fax: ...»

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Government of India

Ministry of Finance

Department of Revenue

Tax Research Unit

*****

P. K. Mohanty

Joint Secretary (TRU-I)

Tel: 23092687, Fax: 23092031

Email: p.mohanty@nic.in

D.O.F.No.334/15/2014-TRU

New Delhi, the 10th July, 2014.

Dear Chief Commissioner/ Commissioner,

The Finance Minister has introduced the Finance (No.2) Bill, 2014 in Lok Sabha today,

th

i.e., 10 of July, 2014. Changes in Customs and Central Excise law and rates of duty have been

proposed through the Finance (No.2) Bill, 2014 (clauses 72 to 87 for Customs and clauses 88 to 105, 107 and 110 for Central Excise). In order to prescribe effective rates of duty and to carry out changes in the Rules made under the respective Acts, the following notifications are being

issued:

CUSTOMS: Notification Nos. Date th No.11/2014-Customs to No.25/2014-Customs 11 July, 2014 Tariff 11th July, 2014 No.50/2014-Customs (NT) and No.51/2014-Customs Non-Tariff (NT)

CENTRAL EXCISE

11th July, 2014 No.8/2014-CE to No.20/2014-CE Tariff 11th July, 2014 No.17/2014-CE (NT) to No.22/2014-CE (NT) Non-Tariff Unless otherwise stated, all changes in rates of duty take effect from the midnight of 10th/11th July, 2014. A declaration has been made under the Provisional Collection of Taxes Act, 1931 in respect of clauses 86, 87 [(1) and (9)(ii)], 104, 105(1), 107, and 110 of the Finance (No.2) Bill, 2014 so that changes proposed therein also take effect from the midnight of 10th/11th July, 2014.

The remaining legislative changes would come into effect only upon the enactment of the Finance (No.2) Bill, 2014. Retrospective amendments in the provisions of law or notification issued under the respective Acts shall have the force of law only upon the enactment of the Finance (No.2) Bill, 2014 but with effect from the date indicated in the relevant clause or Schedule. These dates may be carefully noted.

2. Important changes in respect of Customs and Central Excise duty and legislative changes are contained in the four Annexes appended to this letter. Annex I contains Chapter wise changes relating to Customs; Annex II contains Chapter wise changes relating to Central Excise. Annex III contains the clarifications being issued on various matters. Annex IV provides a bird‟s eye view of legislative changes proposed in the Finance (No.2) Bill, 2014.

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2.1 The Annexes provide a summary of the changes made and should not be used in any quasi-judicial or judicial proceedings, where only the relevant legal texts need to be referred to.

3. In order to achieve a sharper focus, I have alluded only to the key highlights of the budgetary changes in this communication. The details are contained in the Finance Bill and notifications which alone have legal force. My team and I have made every possible effort to avoid the occurrence of errors or mistakes in the Budget documents. However, given the scale of changes, inadvertent errors cannot be ruled out. I shall be grateful if the provisions of the Finance Bill and notifications are studied carefully and feedback on issues that may need clarification is provided urgently.

4. It may kindly be ensured that the changes are implemented in a smooth manner without causing any inconvenience to the taxpayers and other stakeholders. All possible efforts may be made to guide the taxpayers by holding interactive sessions/ seminars for their benefit. In case of any doubt or difficulty, I would request you to kindly bring it to my notice immediately or to the

notice of Sh. Amitabh Kumar, Director (TRU) (Tel No.011-23092236; e-mail:

amitabh.kumar@nic.in, Sh. G. G. Pai, Director (TRU) (Tel No. 011-23092753; e-mail:

giridhar.pai@nic.in or Sh. Akshay Joshi, Budget Officer (TRU) (Tel No. 011-23094819); e-mail:

akshay.joshi@nic.in. We can also be reached at budget-cbec@nic.in.

Copies of Finance (No.2) Bill, 2014, Finance Minister‟s Budget Speech, Explanatory 5.

Memorandum to the Bill, relevant notifications can be downloaded directly from www.indiabudget.nic.in as well as www.cbec.gov.in.

6. To conclude, my team and I would like to express my gratitude to you for the valuable suggestions, feedback and support and would look forward to your comments/ suggestions.

–  –  –

Chapter 1 to 7: No change Chapter 8

1) Description of the product “sun dried dark seedless raisins” which attracts concessional Basic Customs Duty of 30% is being changed to “dark seedless raisins”. S.No.29 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated 11th July, 2014 refers.

Chapter 9 to 14: No change

Chapters 15, 29 and 38

1) Basic Customs Duty on fatty acids, crude palm stearin, RBD and other palm stearin and specified industrial grade crude oils is being reduced from 7.5% to Nil for manufacture of soaps and oelochemicals subject to actual user condition. Basic Customs Duty is also being reduced on crude glycerine from 12.5% to 7.5% in general and from 12.5% to Nil for manufacture of soaps subject to actual user condition. S.Nos.51 and 73 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated 11th July, 2014 and new S.Nos.73A, 187B and 230A of notification No.12/2014-Customs, dated 11th July, 2014 refer.





Chapter 16 to 21: No change

Chapter 22:

1) Basic Customs Duty on denatured ethyl alcohol is being reduced from 7.5% to 5%. S.No.96 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 refers.

Chapter 23

1) Full exemption from basic customs duty is being granted to de-oiled soya extract, groundnut oil cake/oil cake meal, sunflower oil cake/oil cake meal, canola oil cake/oil cake meal, mustard oil cake/oil cake meal, rice bran/rice bran oil cake and palm kernel cake, up to 31.12.2014. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.No.104D] refers.

Chapter 24 and 25:

1) Tariff item 2402 20 60 is being omitted as a consequential change to the amendment in the First Schedule to the Central Excise Tariff Act, 1985. Tariff items related to cigarettes of 4 length exceeding 75 mm but not exceeding 85 mm and cigarettes of length exceeding 85 mm are being merged into a single tariff item i.e. others [2402 20 90]. A suitable amendment has been proposed in the Customs Tariff Act, 1975. Clause 87 of the Finance (No.2) Bill, 2014 refers.

2) Basic Customs Duty on steel grade dolomite and steel grade limestone is being reduced from 5% to 2.5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.Nos.110A and 111A respectively] refers.

Chapter 26

1) Export duty on bauxite is being increased from 10% to 20%. In this connection, S.No.24A and 24B of notification No.27/2011-Customs dated the 1st March, 2011 as amended by notification No.15/2014-Customs, dated 11th July 2014 refers.

Chapter 27

1) The duty structure on non-agglomerated coal of various types is being rationalized at 2.5% BCD and 2% CVD. Accordingly, the BCD on Coking coal is being increased from NIL to 2.5% and on steam coal and bituminous coal from 2% to 2.5%. The BCD on anthracite coal and other coal is being reduced from 5% to 2.5%. The CVD on Anthracite coal, Coking coal and other Coal is being reduced from 6% to 2%. S.Nos.122, 122A, 123 and 124 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 refer. New S.No.124A covers other coal (2701 1990).

2) Basic Customs Duty on metallurgical coke is being increased from Nil to 2.5%. S.No.125 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 refers.

3) Basic Customs Duty on crude naphthalene is being reduced from 10% to 5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated the 11th July 2014 [new S.No.126A] refers.

4) Basic Customs duty on reformate and other goods under sub-heading 2707 50 00 is being reduced from 10% to 2.5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.No.126B] refers.

5) Basic Customs Duty on coal tar pitch is being reduced from 10% to 5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated the 11th July 2014 [new S.No.126C] refers.

6) Exemption from Basic Customs Duty and CVD is being granted on re-gasified LNG for supply to Pakistan. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.No.138C] refers.

Condition 8B may be referred for details.

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7) Liquefied Propane and Butane mixture, Liquefied Propane, Liquefied Butane and Liquefied Petroleum Gases (LPG) imported by the Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited or Bharat Petroleum Corporation Limited, for supply to NonDomestic Exempted Category (NDEC) customers is being fully exempted retrospectively w.e.f. 08.02.2013 and upto 10.07.2014. Clause 85 of the Finance (No.2) Bill, 2014 refers.

The exemption shall continue w.e.f. 11.07.2014 vide S.No.141 of notification 12/2012Customs dated 17th March, 2012 as amended by notification No.12/2014-Customs dated 11th July, 2014.

8) Basic Customs duty on propane is being reduced from 5% to 2.5%. Notification No.12/2012Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.No.142B] refers.

Chapter 28-49:

1) Basic Customs duty on ethane and other goods under sub-heading 2901 10 00, ethylene, propylene and butadiene is being reduced from 5% to 2.5%. Notification No.12/2012Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.Nos.173A to 173D] refers.

2) Basic Customs Duty on ortho-xylene is being reduced from 5% to 2.5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated the 11th July 2014 [new S.No.173E] refers.

3) Basic Customs Duty on methyl alcohol is being reduced from 7.5% to 5%. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014Customs, dated the 11th July 2014 [new S.No.178A] refers.

4) Basic Customs Duty on raw materials for manufacture of spandex yarn viz.

Diphenylmethane 4,4 di-isocyanate (MDI) and Polytetramethylene ether glycol (PT MEG) is being reduced from 5% to Nil. S.No.185 and S.No.244 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014.

5) Full exemption from Basic Customs Duty is being provided on specified raw materials used in the manufacture of solar backsheet and EVA sheet for use in manufacture of solar PV cells or modules. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated 11th July, 2014 [new S.No.211A] refers.

6) Full exemption of customs duty is being provided on security fibre, security threads and Mfeature imported by Bank Note Paper Mill India Private Limited (BNPMIPL), Mysore.

S.No.233 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 refers. Full exemption from BCD and CVD is also being provided for raw materials required for manufacture of security threads and security fibre subject to actual user condition. Notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 [new S.No.233A] refers.

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7) S.No.169 of notification No.10/2008-Customs, dated 15th January, 2008 [India-Singapore Comprehensive Economic Co-operation Agreement (CECA)] relating to tariff item 3903 19 90 is being omitted. As a result, Basic Customs Duty on Polystyrene (other than moulding powder) is being increased from 1.15% to 7.5%. Notification No.17/2014-Customs, dated the 11th July 2014 refers.

Chapter 50: No change

Chapter 51 and 52:

1) The list of specified goods required by handicraft exporters is being expanded so as to include wire rolls in the same for the purpose of granting the facility of duty free import.

S.No.206 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by notification No.12/2014-Customs, dated the 11th July 2014 refers.

2) Non-fusible embroidery motifs or prints are being included in the list of items eligible to be imported duty free for manufacture of garments for export. S.No.282 of notification No.12/2012-Customs, dated 17th March, 2012 as amended by Notification No.12/2014Customs, dated the 11th July 2014 refers.

3) The duty free entitlement for import of trimmings & embellishments and other goods used by the readymade textile garment sector for manufacture of garments for export is being increased from 3% to 5%. S.No.282 (condition No.24) of notification No.12/2012-Customs, dated 17th March, 2012 as amended by Notification No.12/2014-Customs, dated the 11th July 2014 refers.

4) Specified goods imported for use in the manufacture of textile garments for export are fully exempt from BCD and CVD subject to the condition that the manufacturer produces an entitlement certificate from the Apparel Export Promotion Council. In addition, Indian Silk Export Promotion Council (ISEPC) is being authorised to issue entitlement certificate.

S.No.282 (condition No.24) of notification No.12/2012-Customs, dated 17th March, 2012 as amended by Notification No.12/2014-Customs, dated the 11th July 2014 refers.



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