Custom Duty articles

Budget 2018 – Proposed Changes in Customs Law

Changes in Budget ♠ Changes in Customs tariff ( Rates) -Make in India theme -Reduction in duty on raw materials -Increase in duty on finished goods ♠ Significant Changes in Legislative Changes in Customs Act, 1962 ♠ Changes in Customs tariff Act, 1975 Budgetary Changes Customs Duty Rates Customs Tariff: Notification No. 6/2018-Custo...

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Budget 2019: Exhaustive analysis of amendments in Customs Act 1962

Article contains Clause wise Amendments in the Customs Act, 1962 vide Finance (No.2) Bill, 2019 and Other Proposals Involving Changes In Basic Customs Duty Rates,  Clarificatory Amendments In Respective Rate Notifications, Effective change in rate of Road and Infrastructure Cess on Petrol and Diesel, Amendment In The Sixth Schedule To F...

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Budget 2019 Amends Customs Tariff Act, 1975 & First Schedule

Section 9 is being amended so as to insert sub-section (1A) to provide for anti-circumvention measure in respect of countervailing duty. (Clause 85). Section 9C is being amended so as to provide that appeal against an order of determination or review regarding the existence, degree and effect of increased volume of imports of any article ...

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Proposed Amendment in Customs Act, 1962 & Service Tax

Proposed Amendment in the Customs Act, 1962 and Service Tax – Union Budget 2019 The legislative changes would come into effect only upon the enactment of the Finance (No. 2) Bill, 2019. Proposed Amendment in the Customs Act, 1962 Current provisions Proposed provisions Effect Section – 41 (Delivery of departure manifest or export m...

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Highlights of Budget 2019- Direct and Indirect Tax

Income Tax Highlights of Budget 2019 1. No change in Income Tax in case of income up to Rs 2 crores. 2. Income Tax return can be filed using either Aadhar Number or PAN No. 3. Surcharge – √ Taxable income from Rs 2 crore to Rs 5 crore- Surcharge has been increased from 15% […]...

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Budget 2019: Explanatory memorandum to Custom Notifications

Explanatory memorandum to Notifications No. 18/2019-Customs to 27/2019-Customs all dated 6th July 2019: – S. No. Notification No. Description 1. Notifications No. 18/2019-Customs dated 6th July 2019 Seeks to increase the effective rate of Road and Infrastructure cess, as additional duty of customs, on petrol and diesel. 2. Notifica...

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