Interim Budget 2014 – Amendment in Custom Duty

1)  Custom Duty On Pulses:  Full exemption from customs duty on pulses valid till 31.03.2014 has been extended by another 6 months i.e. up to 30.09.2014.  
Amendment: Notification dated 17.03.2012, [Clause (a) of the proviso to the notification No.12/2012-Customs is amended by notification No.5/2014-Customs, dated 17.02.2014. 

2)  Custom on Construction Machinery: CVD exemption hitherto available on specified road construction machinery has been withdrawn. These specified machinery will henceforth attract CVD and SAD. Exemption from the basic customs duty will however continue.
Amendment: Notification dated 17.03.2012, Sl.No.368A of the Table read with List 16A of notification No.12/2012-Customs is amended as notification No.5/2014-Customs, dated 17.02.2014. 

3)   Customs on Industrial oils and its fractions: The basic customs duty structure on non-edible grade industrial oils and its fractions, palm stearin, fatty acids and fatty alcohols has been rationalised at 7.5%.
Amendment: Notification dated 17.03.2012, [Sl.No.51, 187A and 230 of the Table of notification No.12/2012-Customs is amended by notification No.5/2014-Customs, dated 17.02.20 14. 

4)  LNG: 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.
Amendment: Notification dated 17.03.2012, Sl.Nos.138A and 138B of the Table of notification No.12/2012-Customs is amended by notification No.5/2014-Customs, dated 17.02.2014.

5) Capital goods imported by Bank Note Paper Mill India Private India Limited: 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 1.12.2014. 
Amendments: 

1. Notification dated 17.03.2012, in [Sl.No.394A of the Table read with clause (j) of the proviso to the notification No.12/2012-Customs, amended by notification No.5/2014-Customs, dated 17.02.2014. 
2. Notification dated 17.03.2012, in Sl.No.83A of the Table of notification No.21/2012-Customs, amended by notification No.6/2014-Customs, dated 17.02.2014. 

6)Human Embryo Human embryo has been fully exempted from customs duty.
Amendment: Notification dated 17.03.2012,  [Sl.No.16A of the Table of notification No.12/2012-Customs is amended by notification No.5/2014-Customs, dated 17.02.2014.