Basic Customs Duty Cut by 5% on Crude Petroleum and Petroleum Products

Crude Duty Now Zero while Petroleum Products are at 5%

[Customs Notification No. 52 dated 25th June 2011]

Amended Entries are as below:

SNo.	HS Code	Item Description	Basic Duty	Addl Duty	Condition
487.	2709 00 00	All goods [S.No. 487 inserted by 11/01.03.2005; Duty reduced to Nil from 5% by Ntfn 74/04.06.2008; Duty raised to 5% from Nil by 21/27.02.2010; Duty reduced to Nil from 5% by 52/25.06.2011]	Nil 5% Nil 5%	-	-
488A.	2710 11	Motor spirits commonly known as petrol [S.No. 488A inserted by 59/14.06.2006; Duty reduced to 2.5% from 7.5% by Ntfn 74/04.06.2008; Duty raised to 7.5% from 2.5% by 21/27.02.2010; Duty reduced to 2.5% from 7.5% by 52/25.06.2011]	2.5% 7.5% 2.5% 7.5%	-	-
488B	2710 19 30	High Speed Diesel (HSD) [S.No. 488B inserted by 59/14.06.2006; Duty reduced to 2.5% from 7.5% by Ntfn 74/04.06.2008; Duty raised to 7.5% from 2.5% by 21/27.02.2010; Duty reduced to 2.5% from 7.5% by 52/25.06.2011]	2.5% 7.5% 2.5% 7.5%	-	-

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1st March, 2002 which was published in the Gazette of India, Extraordinary, vide G.S.R.118 (E) 1st March, 2002, namely: -

In the said notification, in the Table,-

(i) after S. No 72A and the entries relating thereto, the following S. No. and entries shall be inserted, namely:-

(1)	(2)	(3)	(4)	(5)	(6)
“72B.	2710, 2711, 2712, 2713, 2714 or 2715	All goods, other than goods mentioned at S. Nos. 72 A, 73, 74A,74B, 75 E, 76, 77A, 488A and 488B	5%	-	-’’;

(ii) against S. No. 487, for the entry in column (4), the entry “Nil” shall be substituted;

(iii) against S. No. 488A, for the entry in column (4), the entry “2.5%” shall be substituted;

(iv) against S. No. 488B, for the entry in column (4), the entry “2.5%” shall be substituted;

[F. No. 354/95/2008-TRU (Pt.I)]