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TMI BlogCUSTOMSX X X X Extracts X X X X X X X X Extracts X X X X ..... rehousing station is being omitted. [113] 3. Chapter heading of Chapter III is being amended to omit the word warehousing station . [114] 4. Section 9 is being omitted. [115] 5. Section 25 is being amended so as to omit the requirement of publishing and offering for sale any notification issued, by the Directorate of Publicity and Public Relations of CBEC. [116] 6. Sections 28, 47, 51 and 156 are being amended so as to: a) increase the period of limitation from one year to two years in cases not involving fraud, suppression of facts, willful mis-statement, etc. b) provide for deferred payment of customs duties for importers and exporters to certain class of importers and exporters. [117], [118], [119], [135] 7. Section 53 is being amended so as to enable the Board to frame regulations for allowing transit of certain goods and conveyance without payment of duty. [120] 8. Sections 57 and 58 are being substituted to provide for licensing by the Principal Commissioner or Commissioner, in place of Deputy/Assistant Commissioner, subject to such conditions as may be prescribed. [121], [122] 9. New section 58A is being inserted to provide for a new class of warehouses which require continu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... mended to provide for cancellation bond in case of transfer of ownership of the goods, and is thus aligned with sub-section (5) of section 59. [133] 23. New section 73A is being inserted so as to provide for custody of warehoused goods and responsibilities including the liabilities of warehouse keepers. [134] AMENDMENT IN THE CUSTOMS TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2016 1. To omit Section 8C [Power of Central Government to impose transitional product specific safeguard duty on imports from People s Republic of China] [137] AMENDMENT IN THE FIRST SCHEDULE TO THE CUSTOMS TARIFF ACT, 1975 S. No. Amendment Clause of the Finance Bill, 2016 Amendments not affecting rates of duty 1. Editorial changes in the Harmonized System of Nomenclature (HSN) in certain chapters are being incorporated in the First Schedules, to be effective from 01.01.2017. [138(ii)] 2. To: 1) Amend supplementary notes (e) and (f) Chapter 27 so as to change the reference: a) from IS:1460:2000 to IS:1460:2005 for high speed diesel (HSD) and b)from IS:1460 to IS: 15770:2008 for light diesel oil (LDO); 2) Substitute Tariff line 5801 39 10 with description Warp pile fabrics, uncut in place of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aromatic constituents 2.5% / 5% / 10% 2.5% 11 Pitch and pitch coke, obtained from coal tar or from other mineral tars 5% / 10% 5% Petroleum exploration and production 12 Goods required for exploration production of hydrocarbon activities undertaken under Petroleum Exploration Licenses (PEL) or Mining Leases (ML) issued or renewed before 1 st April 1999 Applicable BCD and CVD BCD - Nil CVD Nil Chemicals Petrochemicals 13 All acyclic hydrocarbons and all cyclic hydrocarbons [other than para-xylene which attracts Nil BCD and styrene which attracts 2% BCD] 5% / 2.5% 2.5% 14 Denatured ethyl alcohol (Ethanol) subject to actual user condition 5% 2.5% 15 Orthoxylene for the manufacture of phthalic anhydride subject to actual user condition SAD 4% SAD 2% 16 Electrolysers, membranes and their parts required by caustic soda / potash unit using membrane cell technology 2.5% Nil Paper, Paperboard and newsprint 17 Wood in chips or particles for manufacture of paper, paperboard and news print 5% Nil 18 Plans, drawings and designs Nil 10% Textiles 19 Specified fibres and yarns 5% 2.5% 20 Specified fabrics [for manufacture of textile garments for export] of value equivalent to 1% of FOB value of ex ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de (PTN) products, Multiprotocol Label Switching-Transport Profile (MPLS-TP) products, Multiple Input / Multiple Output (MIMO) and Long Term Evolution (LTE) Products on which 10% BCD was imposed in 2014-15 Budget being non-ITA I bound] from the purview of the other exemption. Nil BCD 10% 32 Preform of silica for manufacture of telecom grade optical fibre /cables Nil 10% 33 Specified capital goods and inputs for use in manufacture of Micro fuses, Sub-miniature fuses, Resettable fuses, and Thermal fuses Applicable BCD Nil 34 Neodymium Magnet (before Magnetization) and Magnet Resin (Strontium Ferrite compound/before formed, before magnetization) for manufacture of BLDC motors, subject to actual user condition Applicable BCD 2.5% 35 Populated PCBs for manufacture of personal computers (laptop or desktop) Nil SAD 4% SAD 36 Populated PCBs for manufacture of mobile phone/tablet computer Nil SAD 2% SAD Metals, glass and ceramics 37 Silica sand 5% 2.5% 38 Brass scrap 5% 2.5% 39 Other aluminium products 7.5% 10% Jewellery 40 Gold dore bars. 8% CVD 8.75% CVD 41 Silver dore. 7% CVD 7.75% CVD Automobiles 42 Golf cars 10% 60% 43 Specified parts of electric and hybrid vehicles BCD-Nil CVD 6% Upto ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d Isotope Technology (BRIT) for manufacture of radio pharmaceuticals 7.5% Nil 59 Pulp of wood for manufacture of sanitary pads, napkins tampons 5% 2.5% 60 Super Absorbent Polymer when used for the manufacture of sanitary pads, napkins tampons 7.5% 5% 61 Merge the exemptions from customs duties on specified goods imported for petroleum exploration under various types of licenses or mining leases, pre-NELP contracts, NELP contracts, Marginal Fields Policy and the Coal Bed Methane Policy into a single exemption with a unified list of specified goods and conditions Nil BCD Nil CVD Nil SAD Nil BCD Nil CVD Nil SAD 62 Specified goods required for exploration production of hydrocarbon activities undertaken under Petroleum Exploration Licenses (PEL) or Mining Leases (ML) issued or renewed before 1 st April 1999 Applicable BCD, CVD, SAD Nil BCD Nil CVD Nil SAD 63 Prescribe actual user condition for the imports of Phosphoric Acid and Anhydrous Ammonia at concessional BCD/CVD for manufacture of Fertilizers - - 64 Prescribe actual user condition for imports of LCD/LED/OLED Panels imported at Nil BCD for manufacture of LCD/LED/OLED TVs - - 65 Foreign Satellite data on storage media when imported ..... 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