UNION BUDGET 2009-10
INDIRECT TAXATION
Mohd Rafi - Cost Accountant
Customs, excise and service tax base rates are unchanged.
Customs:
S.No. Particulars Existing New Remarks
Rate Rate
1. Set Top Box for
Television broadcasting -- 5% BCD imposed
2. LCD Panels for manufacture
of LCD televisions 10% 5% BCD reduced
3. Parts for manufacture
of mobile phones and
accessories 4% -- Exempted from
Spl. CVD @4%.
4. Specified raw materials/
inputs of sports goods -- -- Exempted from
BCD (In terms of Customs Notification No.21/2008 dated 1.3.2008 manufacturer-exporters of Sports Goods are permitted duty free import of certain essential inputs to an extent of 3% of previous year's FOB export value.)
5. Specified raw materials
and equipment of leather
goods, textile products and
footwear industry -- -- Exempted from
BCD
6. Unworked corals 5% -- BCD reduced to Nil.
7. Specified life saving drugs/
vaccine and their bulk drugs 10% 5% BCD reduced to 5%
No CVD
8. specified heart devices, namely
artificial heart and PDA/ASD
occlusion device. 7.5% 5% BCD reduced to 5%
No CVD
9. Permanent magnets for PM
Synchronous generator above
500 KW used in wind operated
Electricity generators 7.5% 5% BCD reduced to 5%
10. Bio-diesel 7.5% 2.5% BCD reduced to
2.5%
11. Specified machinery for tea,
coffee and rubber Plantations -- 5% Concessional
Customs duty of 5%
12. 'Mechanical harvester' for
Coffee plantation 7.5% 5% BCD reduced to 5%
CVD reduced from
8% to Nil
13. Serially numbered gold bars
(other than tola bars) and
gold coins Rs.100 Rs.200 For each 10 grams
14. Other forms of gold Rs.250 Rs.500 For each 10 grams
15. Silver Rs.500 Rs.1,000 For each Kg.
16. Cotton waste, 15% 10% BCD reduced 10%
Wool waste
17. Rock phosphate 5% 2% BCD reduced to 2%
18. Aerial Passenger Ropeway
Projects nil CVD Applicable CVD
now attract
19. Concrete batching plants of
capacity 50 cum per hour or
more nil 7.5% BCD imposed
20. Packaged or canned software CVD -- CVD exempted
(on the portion of
the value which represents
the consideration for transfer of the right to use such software)
21. Inflatable rafts, snow-skis,
water skis, surf-boats, sail-boards
and other water sports equipment -- -- BCD exempted
Central Excise
1. For All item 4% 8% All item attracting
4% BED
gone up to 8%
except the following
(Specified food items including biscuits, sharbats, cakes and pastries, Drugs and pharmaceutical products falling under Chapter 30, Medical equipment, Certain varieties of paper, paperboard and articles thereof, Paraxylene, Power driven pumps for handling water, Footwear of RSP exceeding Rs.250 but not exceeding Rs.750 per pair, Pressure cookers, Vacuum and gas filled bulbs of RSP not exceeding Rs.20 per bulb,Compact Fluorescent Lamps,Cars for physically handicapped)
2. Large cars/utility vehicles of
engine capacity 2000 cc
and above Rs. 20,000/- Rs.15,000 BED reduced
Per Vehicle
3. Petrol driven trucks/lorries 20% 8% BED reduced
4. Chassis of ['20% + ['8% +
such trucks/lorries Rs.10000'] Rs.10000'] BED reduced
5. Special Boiling Point spirits 32% 14% BED reduced
6. Naphtha 16% 14% BED reduced
7. High Speed Diesel blended
with upto 20% bio-diesel -- -- BED exempted
8. Petrol intended for sale with a
brand name ['6% + Rs.14.50/lrt duty reduced
Rs.13/lrt']
9. Diesel intended for sale
with a brand name [6% + Rs.4.75/lrt duty reduced
Rs.3.25/lrt]
10. Manmade fibre and yarn 4% 8% BED increased
11. PTA and DMT 4% 8% BED increased
(Purified Terephthalic
Acid and Dimethyl Terephthalate)
12. Polyester chips 4% 8% BED increased
13. Acrylonitrile 4% 8% BED increased
14. Pure cotton -- -- Optional duty @4% restored.
15. Man-made and natural
fibres other than pure cotton,
beyond the fibre and yarn stage 4% 8% BED increased
16. Goods of Chapter 68 of Central
Excise Tariff manufactured at the
site of construction -- -- Excise duty exempted
17. 'recorded smart cards' and
'recorded proximity cards and tags'-- -- duty payment is optional (i.e. pay the duty and claim the Cenvat credit)
18. Branded articles of jewellery 2% nil BED exempted
Service tax
(1) The following services are brought into the service tax net:
(i) Service provided in relation to transport of goods by rail.
(ii) Srvice provided in relation to transport of coastal cargo; and goods through inland water including National Waterways.
(iii) Advice, consultancy or technical assistance provided in the field of law (this tax would not be applicable in case the service provider or service receiver is an individual)
(iv) Cosmetic and plastic surgery service
The following services are exempted:
(1) Exemption from service tax being provided to inter-State or intra-State transportation of passengers in a vehicle bearing 'Contract Carriage Permit' with specified conditions.
(2) Exemption from service tax (leviable under Banking and other financial services or under Foreign exchange broking service) being provided to inter-bank purchase and sale of foreign currency between scheduled banks.
(3) Two taxable services, namely, 'Transport of goods through road' and 'Commission paid to foreign agents' to be exempted from the levy of service tax, if the exporter is liable to pay service tax on reverse charge basis. However, present cap of 10% on commission agency charges is retained. Thus there would be no need for the exporter to first pay the tax and later claim refund in respect of these services.
(4) For other services received by exporters, service tax exemption to be operated through the existing refund mechanism based on self-certification of the documents where such refund is below 0.25 per cent of FOB value, and certification of documents by a Chartered Accountant for value of refund exceeding the above limit.
(5) Export Promotion Councils and the Federation of Indian Export Organizations
(FIEO) to be exempt from service tax on the membership and other fees collected by them till 31st March 2010.
Central Sales Tax
No changes announced by the FM in the budget 2009-10
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