Review of levy of Social Welfare Surcharge on various items

Budget 2021-22 + FINANCE Bill, 2021

Review of levy of Social Welfare Surcharge on various items

A. Notification No. 12/2018-Customs, dated 02.02.2018 prescribing effective rates of 3% on certain items, including gold and silver, is being rescinded.

B. SWS is also being rescinded on goods falling under heading 2515 11 and 2515 12

C. SWS is being exempted on the value of AIDC imposed on gold and silver. Accordingly, these items would attract SWS, at normal rate, only on value plus basic customs duty.

Full Text:

Budget 2021-22 + FINANCE Bill, 2021

Dated: 1-2-2021