ANNOUNCEMENT 01 Feb 2022

As part of the Budget 2022-2023, India has amended the list of goods on the imports of which a Social Welfare Surcharge is applicable.

NUMBER OF INTERVENTIONS

2

  • 1 harmful
  • 0 neutral
  • 1 liberalising

SOURCE

Notification No. 03/2022-Customs
https://www.indiabudget.gov.in/doc/cen/cus0322.pdf

Inception date: 02 Feb 2022 | Removal date: open ended

Internal taxation of imports

On 1 February 2022, the Indian Ministry of Finance through Notification No. 03/2022-Customs exempted the imports of various goods* from a 10% Social Welfare Surcharge (SWS). The Notification is part of the Indian Budget 2022-2023.

The SWS was introduced in the 2018-19 budget and was levied at the rate of 10% on the aggregate customs duties.

The amendment is effective from 2 February 2022.

*The goods are covered under HS code 0802.91, 0802.92, 0802.99, 1509.90, 1510.90, 2515.12, 2516.11, 2516.12, 5208.39, 5209.31, 5209.32, 5209.39, 5209.49, 5210.39, 5211.31, 5211.32, 5211.39, 5211.49, 5407.61, 5516.22, 5516.23, 5802.30 

AFFECTED SECTORS

 
Inception date: 02 Feb 2022 | Removal date: open ended

Internal taxation of imports

On 1 February 2022, the Indian Ministry of Finance through Notification No. 03/2022-Customs withdrew an exemption on the imports of various goods* from the imposition of a 10% Social Welfare Surcharge (SWS). The Notification is part of the Indian Budget 2022-2023.

The SWS was introduced in the 2018-19 budget and is levied at the rate of 10% on the aggregate customs duties.

The amendment is effective from 2 February 2022.

*The goods are covered under HS code 520839, 520931, 520932, 520939, 520949, 521039, 521131, 521132, 521139, 521149, 540761, 551622, 551623, 580230, 600192, 610120, 610130, 610210, 610220, 610230, 610419 (except of wool or fine animal hair or cotton), 610462, 610463, 620130, 620140, 620230, 620240, 620469, 610190, 620311, 620312, 620319, 620331, 620332, 620333, 620339, 620343, 620349, 620411, 620413, 620419, 620431, 620432, 620433, 620439.