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Customs
Duty
- Peak rate of ad-valorem
customs duty reduced from 35% to 30%
- Reduction
in Customs duty
- Non Ferrous
Metals
- Customs duty
on copper, zinc, and lead has been reduced
from 35% to 25%
- Customs duty
on tin reduced from 25% to 15%
- Customs duty
on aluminium reduced from 25% to 15%
- Steel
- Customs duty
on refractory raw materials, low silica
limestone and graphite electrodes has been
revised as follows
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Commodity
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From
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To
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Natural
graphite powder
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35%
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25%
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Andalusite
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25%
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15%
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Fused mullite
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25%
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15%
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Aluminious
cement
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35%
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25%
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Silicon
metal (99% purity)
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35%
|
25%
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Micro/Fumed
Silica
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35%
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25%
|
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Calcined
alumina
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35%
|
25%
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Brown fused
alumina
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35%
|
25%
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Sinterd/Tabular
alumina
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35%
|
25%
|
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Fused zirconia
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35%
|
25%
|
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Sodium
hexametaphosphate
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35%
|
25%
|
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Silicon
carbide
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35%
|
25%
|
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Boron carbide
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35%
|
25%
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Reactive
alumina
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35%
|
25%
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Low silica
limestone (less than 0.6% silica content)
|
25%
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15%
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Graphite
electrodes (above 24 inches)
|
25%
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15%
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Customs
duty on Metcoke imported by corex technology
based steel plants.
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15%
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5%
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Customs
duty on HRGO/HRNGO .
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35%
|
25%
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- Ports and
Airports
- Customs duty
on specified equipment for ports and airports
has been reduced from 25% to 10%
- Aeroplanes,
helicopters, gliders, simulators of aeroplane,
parts thereof (excluding rubber tyres and
tubes for aeroplanes and gliders) and raw
materials, have been exempted from customs
duty.
- Special Economic
Zone
Developers
and manufacturing/processing units in Special
Economic Zones shall be entitled to exemption
on inputs and all other materials including capital
goods.
-
Textile
Machinery
Customs
duty on specified items of reeling, twisting,
weaving and processing machinery for silk textile
industry reduced from 25% to 10%. These have
been exempted from CENVAT also. CENVAT exemption
has also been extended to 28 processing machinery,
automatic shuttle looms and specified jute machinery.
The concessions on the textile machinery would
be available up to 28.2.2005.
-
Customs
duty on cement and clinkers has been reduced
from 25% to 20%
Customs duty on specified studio equipment and
earth station equipment has been reduced from
35% to 25%.
Major Exemptions
from Customs Duty
- Exemption to mega
power projects other power projects fertilizer and
coal mining projects as available earlier is being
continued.
- Exemption is also
granted to barge mounted power plants.
- Exemption from Special
Addition Duty of Customs (SAD)
- Rate of SAD:- The
rate of special additional duty of customs continues
to be 4% ad-valorem subject to exemptions notified.
These
provisions have already become effective from First
March, 2002
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