ANNOUNCEMENT 28 Feb 2013

On 28th February 2013, the Indian Government announced the Union Budget 2013 with the following changes in customs tariffs as per Notification No.12/2013-Customs, amending Notification No. 12/2012.

NUMBER OF INTERVENTIONS

3

  • 1 harmful
  • 1 neutral
  • 1 liberalising
Inception date: 01 Mar 2013 | Removal date: open ended
Still in force

Import tariff

Other Nuts, Fresh Or Dried, Whether Or Not Shelled Or Peeled (HS 0802) are inserted in the schedule with a tariff of 10%, thus reducing it from the the normal 30% tariff. Tariff on de-hulled oat grain (HS 1104) has been reduced from 30% to 15% Tariff on Peanut Butter (HS 2008) has been inserted with a tariff of 7.5% against 30% before. Tariff on Bituminous Coal (HS 2701) has been reduced from 5% of 2% and the additional duty from 6% to 2%. Pre-forms of precious and semi-precious stones (HS 7103) are subject to a tariff of 2%, reduced from 10% Tariffs certain textile machinery have been introduced at 5% (HS 8444-8449), reduced from 7.5%. Period of concession for specified parts of Hybrid Vehicles has been extended up to 31 March 2015. Concessions have been introduced to aircraft maintenance, repair and overhaul industry. Duty on specified leather and leather goods manufacturing machinery has been reduced from 7.5% to 5% (HS 8453).