Notification No. 50 /2017-Customs Dated 30/06/2017

Seeks to supersede notification No. 12/2012- Customs dated 17.03.2012 and prescribes effective rates of customs duty and IGST for goods imported into India

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) and sub-section (12) of section 3, of Customs Tariff Act, 1975 (51 of 1975), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 12/2012 -Customs, dated the 6[17th March, 2012] old [17th March, 2017] published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 185 (E) dated the 6[17th March, 2012] old [ 17th March, 2017], except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts the goods of the description specified in column (3) of the Table below or column (3) of the said Table read with the relevant List appended hereto, as the case may be, and falling within the Chapter, heading, sub-heading or tariff item of the First Schedule to the said Customs Tariff Act, as are specified in the corresponding entry in column (2) of the said Table, when imported into India,-

(a) from so much of the duty of customs leviable thereon under the said First Schedule as is in excess of the amount calculated at the standard rate specified in the corresponding entry in column (4) of the said Table; and

(b) from so much of integrated tax leviable thereon under sub-section (7) of section 3 of said Customs Tariff Act, read with section 5 of the Integrated Goods and Services Tax Act, 2017 (13 of 2017) as is in excess of the amount calculated at the rate specified in the corresponding entry in column (5) of the said Table,

subject to any of the conditions, specified in the Annexure to this notification, the condition number of which is mentioned in the corresponding entry in column (6) of the said Table:

S.No.

Chapter or
Heading or
sub–heading
or tariff item

Description of goods

Standard
rate

Integrated Goods and Services Tax

 

Condition
No.

377A.

7307 29 00,
7307 99 90,
7308 90 90,
7310 29 90,
7320 90 90,
7325 99 99,
7326 19 90,
7326 90 99

All goods other than SIM socket/other mechanical items (Metal) (7326 90 99) for cellular mobile phone

10%

-

-

377B..

73181500,
73269099

 Screw or SIM socket / other mechanical items (metal) for cellular mobile phone

15%

-

-
380.

7326 90 99

 Forged steel rings for manufacture of special bearings for use in wind operated electricity generators

5%

-

9 and 24