Indirect tax
Basic Customs Duty
Steel grade
limestone and steel grade dolomite @2.5%.
Imported flat
rolled products of stainless steel @7.5%.
Forged Steel
Ring used in manufacture of bearings of wind operated electricity generated
@5%.
Excise Duty
Exempt
Central Excise Duty
Machinery
and equipment required for setting up of a project for Solar Energy Production.
Forged Steel
Rings
Forged Steel
Ring used in manufacture of bearings of wind operated Generators.
Solar Power Project
Concessional
Basic Customs Duty (BCD) of 5
percent is also being extended to machinery and equipment required for setting
up of a project for solar energy production.
Exempting
from Excise Duty:
i.
EVA
sheets and solar back sheets and specified inputs used in their manufacture;
ii.
solar
tempered glass used in the manufacture of solar photovoltaic cells and modules;
iii.
flat
copper wire for the manufacture of PV ribbons for use in solar cells and
modules;
iv.
machinery
and equipment required for setting up of a project for solar energy production;
v.
forged
steel rings used in the manufacture of bearings of wind operated generators;
Wind Power Project
Reducing
the Basic Customs Duty (BCD) from 10
percent to 5 percent on forged steel rings used in the manufacture of bearings
of wind operated electricity generators.
Also
exempted the SAD of 4 percent on
parts and raw materials required for the manufacture of wind operated
generators.
Clean Energy Cess
Increased
the Clean Energy Cess from ` 50 per tonnes to `100 per tonnes.
Service Tax
No
Change noticed related to your Industry.
Easy made doing Business
Reduced interface with Governmental agencies, dwell
time and the cost of doing business.
1.
Extended existing 24x7 customs clearance facility to 13 more airports in
respect of all export goods and to 14 more sea ports in respect of specified
import and export goods.
2. Under an 'Indian Customs Single Window Project' to facilitate trade,
importers and exporters would lodge their clearance documents at a single point
only. Required permissions, if any, from other regulatory agencies would be
obtained online without the trader having to approach these agencies.
Scheme
of Advance Ruling
The
scheme of Advance Ruling in indirect taxes is being expanded to cover resident private limited companies.
This will allow these companies to seek advance ruling in respect of new
activities being proposed to be undertaken by them.
Scope of Settlement Commission
The
scope of Settlement Commission is being enlarged
to facilitate quick dispute resolution.
Disposal of Appeal
To
expedite the process of disposal of appeals, amendments have been proposed in
the Customs and Central Excise Acts with a view to freeing appellate
authorities from hearing stay applications and to take up regular appeals for
final disposal.