Concessional Rates of Customs duties for import of Ostomy appliances and Duty Exemption to tunnel boring machines, parts of optical disc drives etc
THE Central Government has extended concessional duty benefits for import of ostomy appliances and accessories thereof, and also to parts/components required for manufacture of ostomy appliances, if the manufacturer follows IGCRDMEG Rules, 1996.
Also full exemption from customs duty is extended to certain goods required for manufacture of optical disc drives, if the manufacturer follows IGCRDMEG Rules, 1996.
The Government also extended exemption to tunnel boring machines and parts thereof if importers provides certificate to the Customs authorities from the specified competent authority for the purpose.
Customs duty rate on stainless steel scrap for the purpose of melting is reduced to 2.5% from the current effective rate of 5% and all goods falling under Chapter 5301 (flax, flax tow and waste) are exempted from basic customs duty.
Also, concessional rate of 5% customs duty extended to few more drugs including cancer and AIDS' related drugs by expanding List 3 of Notification No. 21/2002-Cus. In the Finance Minister's speech, a mention was made that these drugs were also provided with exemption from CVD by way of an excise duty exemption.
It may be noted that the excise exemption is already provided to the drugs listed in List 3 or List 4 of Notification No. by virtue of S. No. 47 of Notification No. dated 01-03-2006 as amended. So a separate notification was not issued as it is already covered by Notification No. .
For effecting the above mentioned changes in customs duty rates, Notification No. 21/2002-Cus dated March 1, 2002 was amended at appropriate places.
Notification No. , Dated: April 29, 2010