Page 40 - DHC Budget Book 2021-22 Final
P. 40
INDIA BUDGET 2021-22
Central Sales Tax Act, 1956
[to be effective from the date of enactment of the Bill]
Section 8(3)(b) of the Central Sales Tax Act, 1956 is proposed to be amended to restrict inter-state purchase of goods at concessional rate of 2% (against issue of Form ‘C’) in case where the registered person uses the said goods for manufacture or processing of goods for sale of specific goods i.e. petroleum crude, diesel, Motor spirit, natural gas, aviation turbine fuel] and alcoholic liquor]
The Customs Tariff Act, 1975
[to be effective from the date of enactment of the Bill]
Amendments introduced relating to Anti- dumping duty and Countervailing Duty to provide anti-absorption provisions and other safeguard measures
Procedural changes and other amendments made in Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidised Articles and for Determination of Injury) Rules, 1995 & Custom Tariff (Identification, Assessment and Collection of Anti-Dumping Duty on dumped Articles and for Determination of Injury) Rules, 1995 [to be effective from 02-02-2021]
Changes in Rates of Customs
[to be effective from 02-02-2021]
Electronic and Mobile Phone Industry
Withdrawal of few exemptions on parts of
chargers and sub-parts of mobiles.
The rate of Basic Custom Duty (in short ‘BCD’) on some parts of mobiles will change from ‘nil’ rate to 2.5%(w.e.f 01-04-2021)
Iron and Steel
Reduction in BCD to 7.5% on primary/semi- finished product of iron or non-alloy steel, flat
38 Building a Resilient and Confident India
