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TMI BlogInterim Budget 2014 — Changes and clarification on Customs and Central ExciseX X X X Extracts X X X X X X X X Extracts X X X X ..... toms 17th February, 2014 CENTRAL EXCISE Tariff No. 4/2014-Central Excise 17th February, 2014 All changes in rates of duty take effect from the date of publication of the notifications in the Official Gazette i.e. 17-2-2014. 2. The changes made are contained in the Annex appended to this letter, which provides a summary of the changes made. However, the details are contained in the notifications which alone have legal force. 3. Every possible effort has been made to avoid the errors or mistakes in the notifications. I shall be grateful, if the provisions of the notifications are studied care ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n rationalised at 7.5% [ Sl. No. 51, 187A and 230 of the Table of notification No. 12/2012-Customs, dated 17-3-2012 as amended by notification No. 5/2014-Customs, dated 17-2-2014 refers]. (4) LNG consumed in the authorized operations in the ONGC SEZ unit at Dahej and the remnant LNG cleared into the domestic tariff area (DTA) has been exempted from basic customs duty and CVD [ Sl. Nos. 138A and 138B of the Table of notification No. 12/2012-Customs, dated 17-3-2012 as amended by notification No. 5/2014-Customs, dated 17-2-2014 refers]. (5) A concessional basic customs duty of 5% [CVD (Nil) + SAD (Nil)] has been provided to capital goods imported by Bank Note Paper Mill India Private Limited. The exemption is valid up to 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion No. 4/2014-Central Excise, dated 17-2-2014 refers]. It may be noted that the duty rates notified against Sl. Nos. 345 and 346 for the above goods are valid up to 30-6-2014 only. After this date, the rates applicable would be the rates as mentioned elsewhere in the Table of the notification or in the Tariff against the respective items. (3) The excise duty on small cars, motor cycles, scooters, commercial vehicles and trailers has been reduced from 12% to 8% and on SUVs from 30% to 24%. The excise duties on large and mid segment cars have been reduced from 27% and 24% to 24% and 20% respectively. In line with the duty reduction on commercial vehicles, the excise duty on chassis has been reduced appropriately. Duty has also ..... X X X X Extracts X X X X X X X X Extracts X X X X
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