Dear Members,
The Central Board of Indirect Taxes and Customs (CBIC) has issued Notification No. 50/2018 dated 30/06/2018 regarding tariff concessions on import of goods of the description specified in column (3) of the Table hereto annexed and falling under the Chapter. The CBIC has also issued Notification No. 59/2018 - Customs (N.T.) dated 30/06/2018 amending Rules of Determination of Origin of Goods under the Asia-Pacific Trade Agreement.
For the convenience of the members, the gist of notifications is provided below-
-
Notification No. 50/2018 dated 30/06/2018 regarding tariff concessions on import of goods of the description specified in column (3) of the Table hereto annexed
The notification has following details:
-
The Column 4 of the notification provides the extent of tariff concession (percentage of applied rate of duty %). The tariff concessions on chemical items varies mainly from 5% to 45 % (with exception of one item with 71% concession)
-
Concessions in the case of goods specified in Part A of the said Table pertains to imports into India from a country listed in APPENDIX I (Bangladesh, PR China, Republic of Korea & Sri Lanka)
-
Concessions in the case of goods specified in Part B of the said Table, pertains to import into India from a country listed in APPENDIX II (Lao People's Democratic Republic & Bangladesh)
-
For the purposes of this notification, "applied rate of duty" means the standard rate of duty specified in the First Schedule to the said Customs Tariff Act 1975 in respect of the goods specified in the said Table, read with any other notification for the time being in force.
The above said notifications is available for download using hyperlink provided below-
Notification No. & Date of Issue
|
English
|
Subject
|
50/2018-Cus,dt. 30-06-2018
|
View(539 KB)
|
seeks to provide the tariff concession to the goods of the description specified in column (3) of the Table hereto annexed and falling under the Chapter.
|
-
Notification No. 59/2018 - Customs (N.T.) dated 30/06/2018 amending Rules of Determination of Origin of Goods under the Asia-Pacific Trade Agreement
The details are provided in Annexure C of above notification.
For organic chemicals (Tariff heading 2852) & Inorganic chemicals (2901, 2902, 2903, 2904, 2905, 2906, 2907, 2908, 2909, 2910, 2911, 2912, 2913, 2914, 2915, 2931, 2932, 2933, 2934, 2935, 2936, 2937, 2938, 2939, 2940, 2941, 2942) the origin criteria will be CTH (Change in Tariff Heading).
The above said notification is available for download using hyperlink provided below-
59/2018-Cus (NT) d.t 30.06.2018
|
View (230 KB)
|
|
seeks to amend the Rules of Determination of Origin of Goods under the Asia-Pacific Trade Agreement, (formerly known as the Bangkok Agreement) Rules, 2006.
|
The above notifications come into force on the 1st day of July, 2018.
Members are requested to take note of above notifications and may download using hyperlinks provided therein.
You may also send your feed-back to the council on e-mail ids-deepak.gupta@chemexcil.gov.in & balani.lic@chemexcil.gov.in .
Thanking you,
Yours faithfully,
S.G BHARADI
EXECUTIVE DIRECTOR
|