Lok Sabha Passes Finance Bill 2018

·        Customs and Excise Changes

·        Highlighted Section in Bold letters are the operative part

[Ref: Page No of BIG’s Easy Reference Customs Tariff 2018-19 – Imports]

[Notification No. 41/2018 – Customs dated 6 April 2018]

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with sections 110 and 112 of the Finance Act, 2018 (13 of 2018), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table, namely:-

 

Table

S.No.

Notification No. and Date

Amendments

Ref

(1)

(2)

(3)

 

1.

11/2018-Customs, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 114 (E), dated the 2nd  February, 2018.

In the said notification,-

(i)   for the words, figures and brackets “clause 108 of the Finance Bill, 2018 ( 4 of  2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of la, the words, figures and brackets, “section 110 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words “under the said clause of the Finance Bill”, the words “under the said section of the said Finance Act” shall be substituted.

Exemption of Social Welfare Surcharge (p201)

2.

12/2018-Customs, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 115 (E), dated the 2nd February, 2018.

In the said notification,-

(i)   for the words, figures and brackets “clause 108 of the Finance Bill, 2018 ( 4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of la, the words, figures and brackets, “section 110 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words “under the said clause of the Finance Bill”, the words “under the said section of the said Finance Act” shall be substituted.

SW Surcharge on Petrol, Diesel, Gold and Silver @3% (p202)

3.

13/2018-Customs, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 116 (E), dated the 2nd February, 2018

In the said notification,-

(i)   for the words, figures and brackets “clause 108 of the Finance Bill, 2018 ( 4 of  2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of la, the words, figures and brackets, “section 110 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words and figures “under the said clause of the Finance Bill”, the words “under the said section of the said Finance Act” shall be substituted.

SW Surcharge Exempted on IGST and Compensation Cess (p201)

4.

21/2018-Customs, dated the 2ndFebruary, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 124 (E), dated the 2nd  February, 2018

In the said notification, -

(i)   for the words, figures and brackets “clause 110 of the Finance Bill, 2018 (4 of 2018), which, by virtue of the declaration made in the said Finance Act under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of la, the words, figures and brackets, “section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words and figures “aforesaid clause 110 of the Finance Bill, 2018”, the words and figures “aforesaid section 112 of Finance Act, 2018” shall be substituted.

Additional Duty of Customs (CVD) Exempted on Petrol and High Speed Diesel Oil under Clause 110 of Finance Bill 2018 (p528)

(F. No. 334/4/2018-TRU Pt.)

 

Amendments in Excise Notifications

[Notification No. 19/2018-Central Excise dated 6 April 2018]

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944) read with section 112 of the Finance Act, 2018 (13 of 2018), the Central Government on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of Revenue) specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table, namely: -

 

Table

S. No .

Notification No. and Date

Amendments

Ref

(1)

(2)

(3)

 

1.

11/2017-Central Excise, dated the 30th June, 2017 published in the Gazette of India, Extraordinary, vide number G.S.R. 793(E), dated the 30th June, 2017.

In the said notification, for the words, figures and brackets “under clause 110 of the Finance Bill, 2018 (4 of 2018)”,wherever they occur, the words, figures and brackets “under section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted.

Excise Duty Petrol, Diesel, Blended Fuels and ATF (Regional Connectivity Scheme) (p525)

2.

10/2018-Central Excise, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 136(E), dated the 2nd February, 2018.

In the said notification, -

(i)   for the words, figures and brackets “clause 110 of the Finance Bill, 2018 (4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of law”, the words, figures and brackets, “section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  in the Table, for the words, figures and brackets “Clause 110 of the Finance Bill, 2018 (4 of 2018)”, the words, figures and brackets “section 112 of Finance Act, 2018 (13 of 2018 shall be substituted.

Road and Infrastructure Cess on Petrol and Diesel on Assam Refineries at 50% of Normal Rate  (p529)

3.

11/2018- Central Excise, dated the 2nd February, 2018

In the said notification, -

(i)   for the words, figures and brackets “clause 110 of  published in the Gazette of India, Extraordinary, vide number G.S.R. 137(E), dated the 2nd  February, 2018. the Finance Bill, 2018 (4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of law”, the words, figures and brackets, “section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words and figures “the aforesaid clause of the Finance Bill, 2018”, the words and figures “the aforesaid section of the Finance Act, 2018”shall be substituted; (iii)in the Explanation, for the words, figures and brackets “under clause 110 of the Finance Bill, 2018 (4 of 2018)”, the words, figures and brackets “under section 112 of the Finance Act, 2018 (13 of 2018)”, shall be substituted.

Road and Infrastructure Cess on 5% Ethanol Blended Petrol Exempt on Duty Paid Petrol  (p528)

4.

12/2018- Central Excise, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 138(E), dated the 2nd February, 2018.

In the said notification, -

(i)   for the words, figures and brackets “clause 110 of the Finance Bill, 2018 (4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of law”, the words, figures and brackets, “section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words and figures “the aforesaid clause of the Finance Bill, 2018”, the words and figures “the aforesaid section of the Finance Act, 2018”shall be substituted;

(iii) in the Explanation, for the words, figures and brackets “under clause 110 of the Finance Bill, 2018 (4 of 2018)”, the words, figures and brackets “under section 112 of the Finance Act, 2018 (13 of 2018)”, shall be substituted.

Road and Infrastructure Cess on 10% Ethanol Blended Petro Exempt on Duty Paid Petrol l(p529)

5.

13/2018- Central Excise, dated the 2nd February, 2018 published in the Gazette of India, Extraordinary, vide number G.S.R. 139(E), dated the 2nd February, 2018.

In the said notification, -

(i)   for the words, figures and brackets “clause 110 of the Finance Bill, 2018 (4 of 2018), which, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), has the force of law”, the words, figures and brackets, “section 112 of Finance Act, 2018 (13 of 2018)” shall be substituted;

(ii)  for the words and figures “the aforesaid clause of the Finance Bill, 2018”, the words and figures “the aforesaid section of the Finance Act, 2018” shall be substituted;

(iii) in the Explanation, for the words, figures and brackets “under clause 110 of the Finance Bill, 2018 (4 of 2018)”, the words, figures and brackets “under section 112 of the Finance Act, 2018 (13 of 2018)”, shall be substituted.

Road and Infrastructure Cess on 20% Bio-Diesel Exempt on Duty Paid Diesel  (p529)

(F. No. 334/4/2018-TRU Pt.)

 

Rescinding Notifications – Customs and Excise

[Notification No.42/2018-Customs dated 6 April 2018]

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 94 of the Finance (No. 2) Act, 2004 (23 of 2004), read with section 139 of the Finance Act, 2007 (22 of 2007), read with section 103 of the Finance (No. 2) Act, 1998 (21 of 1998), and read with section 116 of the Finance Act, 1999 (27 of 1999), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notifications of the Government of India in the Ministry of Finance (Department of Revenue) as specified in column (2) of the Table below, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide corresponding number G.S.R. as specified in column(3) of the Table below, except as respects things done or omitted to be done before such rescission.

Table

S.No.

Notification No.

GSR No.

Ref

(1)

(2)

(3)

 

1.

7/2018- Customs, dated 02-02-2018

110(E) dated 02-02-2018

No Education Cess under Sec 94 of Finance Act, 2004 (p203)

2.

8/2018- Customs, dated 02-02-2018

111(E) dated 02-02-2018

No Secondary and Higher Education Cess under Sec 139 of Finance Act,, 2007 (p203)

3.

19/2018- Customs, dated 02-02-2018

122(E) dated 02-02-2018

Additional Duty of Customs (Road Cess) on Imported Petrol and Diesel (p528

4.

20/2018- Customs, dated 02-02-2018

123(E) dated 02-02-2018

[F.No.334/04/2018-TRU Pt.]

 

[Notification No. 20/2018-Central Excise dated 6 April 2018]

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excise Act, 1944 (1 of 1944), read with section 111 of the Finance (No. 2) Act, 1998 (21 of 1998) and read with section 133 of the Finance Act, 1999 (27 of 1999)   the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby rescinds the notifications  of the Government  of India in the Ministry of Finance (Department of Revenue) as specified in column (2) of the Table below, published in the Gazette  of  India,  Extraordinary,  Part  II,  Section  3,  Sub-section  (i),  vide  corresponding number G.S.R. as specified in column(3) of the Table below, except as respects things done or omitted to be done before such rescission.

Table

S.No.

Notification No.

GSR No.

Ref

(1)

(2)

(3)

 

1.

7/2018- Central Excise, dated 02-02-2018

133(E) dated 02-02-2018

Additional Duty of Excise Exempted (Sec 111 of FA 1998)  (p528)

2.

8/2018- Central Excise, dated 02-02-2018

134(E) dated 02-02-2018

Additional Duty of Excise Exempted (Sec 111 of FA 1999) (p528)

[F.No.334/04/2018-TRU Pt.]