Union Budget 2020

February 7th, 2020 by

Consequent to the Union Budget announced on 1st February 2020, the Government of India has made several changes in various notifications. The same are summarised in the table enclosed along with copy of all the relevant Customs Notifications.

Summary of various Customs notifications issued by the Government of India, Ministry of Finance consequent to the Finance Bill 2020:

S. No.Notification No. and DatePurposeEffect
1.01/2020-Customs (SG) dated 2nd Feb 2020for the words and figures “tariff item 8541 40 11”, wherever they occur, the words and figures “tariff items 8541 40 11 and 8541 40 12” shall be substituted. This relates to modification of BCD (Basic Customs Duty) Rate on Solar Cells. Now, the BCD will be imposed on the imports of products having two HSN codes i.e. 8541 40 11- Solar Cells, not assembled and 8541 40 12- Solar cells, assembled in modules or made up into panels. 
2.01/2020-Customsdated 2nd Feb 2020Amendments in the notification no.  50/2017-Customs dated 30th June 2017 (issued for exemptions of goods). Various products added/ omitted as per enclosed notification.
3.02/2020-Customsdated 2nd Feb 2020Amendments in the notification no.  57/2017-Customs dated 30th June 2017 (issued for exemptions of goods). Various products added/ omitted as per enclosed notification.
4.03/2020-Customs (ADD)dated 2nd Feb 2020The Central Government revokes the antidumping duty imposed on “Purified Terephthalic Acid” including its variants “Medium Quality Terephthalic Acid” and “Qualified Terephthalic Acid”, falling under tariff item 2917 36 00 of the first Schedule to the said Act, originating in or exported from the People’s Republic of China, Iran, Indonesia, Malaysia, Taiwan, Korea RP and Thailand. There will no import duty on the import of Purified Terephthalic Acid from China, Iran, Indonesia, Malaysia, Taiwan, Korea RP and Thailand.
5.03/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 19/2019-Customs dated 6thJuly 2019In the opening paragraph, for the words “the Ministry of Defence, Government of India or the defence forces”, the words “Ministry of Defence or the Defence forces, or the Defence Public Sector Units or other Public Sector Units, for the Defence forces” shall be substituted.
6.04/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 148/1994-Customs dated 13th July 1994 (issued for exemptions of goods)Entry No. 2A having product description Wool, Woollen Fabrics and Woollen apparels received as gifts by the Indian Red Cross Society is inserted.
7.05/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 25/99-Customs dated 28thFebruary 1999 (issued for exemptions of goods)Entry No. 80, Gold in the form of wire, ribbon, perform of purity 99.99% and above, omitted.Against S. No. 82in column (2), for the entry, the entry “76,85” shall be substituted;in column (3), for the entry, the entry “Aluminium wire with silicon or magnesium impurity
of up to 2%” shall be substituted.Against S. No. 190, in column (3), after the words “Blade Fuse Body”, the words “; Micro Fuse
Base, Sub-Miniature Fuse Base, Micro Fuse Cover, Sub-Miniature Fuse Cover” shall be insertedAgainst S. No. 225, in column (2), for the entry “3908 90 90”, the entry “3907 99 90 or 3908 90
90” shall be substituted. 
8.06/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 24/2005-Customs dated 1stMarch 2005 (issued for exemptions of goods)In the Table, against S. No. 39, for the entry in column (2), the entry “Any Chapter except Chapter 74” shall be substituted.
9.07/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 24/2005-Customs dated 1st March 2005 (issued for exemptions of goods from whole of Customs Duty) In the Table, against S. No. 33, for the entry in column (2), the entry “Any Chapter except Chapter 74” shall be substituted.
10.08/2020-Customsdated 2nd Feb 2020To exempt goods from the whole of Health Cess leviable thereonAll goods falling under heading 9022, other than those for medical, surgical, dental or veterinary uses.All goods on which exemption is claimed and allowed under various notifications All goods covered under S. Nos. 216, 216A, 561, 562, 564, 565, 566, 567, 568, 570, 571, 573, 574, 578, 578A, 580 and 581 of the Table annexed to the Notification No. 50/2017-Customs, dated the 30th June, 2017
11.09/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 24/2005-Customs dated 1st March 2005 (issued for exemptions of goods from whole of Social Welfare Charge) Various entries added/ substituted/ omitted as per enclosed notification.
12.10/2020-Customsdated 2nd Feb 2020Amendments in the notifications no. 73/2005-Customs dated 22ndJuly 2005 (exemption of goods imported from Singapore) 101/2007-Customs dated 11thSeptember 2007 (Tariff concessions on specified items under Indo-Chile PTA 46/2011-Customs dated 1st June 2011 (Duty concessions to Philippines and other ASEAN countries-India FTA (AIFTA)) 53/2011-Customs dated 1st July 2011 (Tariff concessions on goods imported from Malaysia) Substitution of various HSN Code as per notification enclosed. 
13.11/2020-Customsdated 2nd Feb 2020Amendments in the notification no. 82/2017-Customs dated 27th October 2017 (issued for effective rate of duty on Textile Products) In the Table, serial number 31A and the entries relating thereto shall be omitted.
14.12/2020-Customsdated 2nd Feb 2020To rescinds various notificationsAs per enclosed attachment