| Custom Tax |
- Custom Duty on non-agricultural
products reduced to 12.5% from 15%.
- Custom Duty on alloy steel and
primary and secondary non-ferrous metals reduced to 7.5% from 10% .
- Custom Duty on steel melting scrap
raised to 5%.
- Custom Duty on ores and concentrates
reduced to 2% from 5%.
- Custom Duty on refractories and
number of materials for manufacture of refractories reduced to 7.5%.
- Custom Duty on basic inorganic
chemicals reduced to 10% from 15%.
- Custom Duty on basic cyclic and
acyclic hydrocarbons and their derivatives reduced to 5%
- Custom Duty on catalysts reduced to
7.5% from 10%.
- Custom Duty on major bulk plastics
reduced to 5% from 10%.
- Custom Duty on anti-AIDS and
anti-cancer drugs has been reduced to 5%. On certain life saving
drugs, kits and equipment it is reduced to 5% from 15%. These are
exempted from excise duty and CVD.
- Custom Duty on packaging machines has
been reduced to 5% from 15%. No changing in custom duty of 10% for
the transportation of natural gas under pipeline projects. 4% CVD on
all imports with few exceptions.
- Custom Duty on vanaspati is to be
increased to 80%. Import Duty on handmade made fibres, yarns and raw
materials (DMT, PTA and MEG) is to be reduced to 10% from 15% and on
paraxylene to 2%.
|