Bicycles attract basic customs duty (BCD) of 30% while specified parts of bicycles attract BCD of 20%.

China is the largest exporter of bicycles and parts thereof to India. However, import data for 2013-14 shows no evidence of increase in imports of bicycles and parts from Sri Lanka and in case of Bangladesh, while there is increase in imports of bicycles in value terms there is no surge in imports of bicycle parts.

Based on representations received alleging violation of Rules of origin in imports of such commodities through Sri Lanka and Bangladesh, the CBEC has on 31.1.2014 initiated a verification process on certificate of origin received under SAFTA, SAPTA and ISLFTA for import of cycles and cycle parts. Separately, the Department of Commerce has also taken up with the State Governments advising them to procure (as per State Government schemes) Indian manufactured bicycles with indigenous parts to protect the cause of the domestic industry.

The information was given by the Minister of State (Independent Charge) of the Ministry of Commerce & Industry Smt. Nirmala Sitharaman in Rajya Sabha today.

More Under Excise Duty

Posted Under

Category : Excise Duty (4144)
Type : News (13632)
Tags : import duty (20)

Leave a Reply

Your email address will not be published. Required fields are marked *