India: ascent of tariffs in the budgets of this year 20-21

8/12/2020

New tariffs in the budgets of India

NEW BUDGETS OF INDIA FOR THE YEAR 2020-2021

Last february of 2020, the Minister of finance, Nirmala Sitharaman, submitted to the indian parliament, the annual budgets of the country for the fiscal year 2020-2021 amid high expectations at a time of economic uncertainty.

A tariff level, these new budgets are, for a consecutive year, a newtariff increase.The tariff increases announced relate primarily to property In the end.case of spain, and underscored the footwear case (25 per cent increase to 35 per cent), the gardens (10 to 20 per cent), or toys (20 per cent to 60 per cent).

Also stresses a tax of health of 5 per cent imported medical teams and increased tariffs on products such as nuts without shell (30% to 100 per cent) and furniture (from 20 to 25 per cent). There have also increased tariffs in the electronics sector in the framework of the programme of Manufacture by Stages for electric vehicles and mobile phones. Instead, they have reduced tariffs on some products used as manufacturing for local producers.

These safeguards are mostly of immediate application and aim to strengthen the manufacturing capacity of India in these sectors.

In the next chart you can find a breakdown of the major tariff increases.

HSN

DESCRIPTION

OLD RATE

REVISED RATE

04041010

04049000

Whey, concentrated, evaporated or condensed, liquid or semi-solid

Other

30%

40%

0405

Butter and other fats and oils derived from milk dairy spreads;

30%

40%

04069000

Other cheese

30%

40%

05

Pancreas (Products of animal origin, not elsewhere specified)

5%

30%

0601

0602

Bulbs, tubers, tuberous roots, corms, crowns and rhizomes, dormant, in growth or in flower; chicory plants and roots other than roots of heading 1212

Other live plants (including the roots), cuttings and slips alberto m figueroa medina; l

5%

10%

08023200

Walnuts shelled

30%

100%

10019920

10011100

10019100

Meslin

Durum Wheat seed:

Other: seed

0%

100%

12091000

Sugar beet seeds

5%

30%

1517

Margarine

80%

100%

1518

Plant or Animal fat and oils

80%

100%

15200000

Glycerol, crude; glycerol waters and glycerol lyes

20%

30%

17041000

Chewing gum, whether or not sugar coasted

30%

45%

180690

Food preparations for infant use

17.5%

30%

190110

Preparations suitable for infants or young children, put up for retail sale

30%

50%

20041000

Potatoes

30%

35%

20081100

Peanut butter

7.5%

30%

22

Wine, for use as sacramental wine

30%

150%

2208

Angostura bitters

5%

150%

230120

23099032

23099039

End fish feed

Feeds for fish (prawns, etc.): Fish meal in powdered form

Other

0%

30%

2304

Soy Dietary fibre

15%

30%

37

Photographic or cinematographic goods.

5%

10%

3824 99 00

Ammoniacal gas liquors and spent oxide produced in coal gas purification, case hardening compound, heat transfer salts; mixture of diphenyl and diphenyl oxide as heat transfer medium,mixed polyethylene glycols; salts for curing or salting, surface tension reducing agents

10%

17.5%

4114 20 10

Patent Leather

0%

10%

6401/6405

Footwear; waterproof, with outer soles and uppers of rubber or plastics, (uppers not fixed to the sole nor assembled by stitch, rivet, nail, screw, plug or similar)

25%

35%

6911

6912

Tableware, kitchenware, other household articles and toilet articles; of porcelain or china

Ceramic tableware, kitchenware, other household articles and toilet articles; other than of porcelain or china

10%

20%

7013

Glassware of a kind used for table, kitchen, toilet, office, indoor decoration or similar purposes

10%

20%

7103/7104

Conclusions, Emeralds, Sapphires, Semi-precious, Precious, Gem Stones (rough & coloured)

0%

0.5%

7323

Table, kitchen, other household articles and parts, of iron or steel; iron or steel wool; pot scourers and scouring or polishing pads, gloves and the like, of iron or steel

10%

20%

7418 10

Copper; table, kitchen or other household articles and parts thereof; pot scourers and scouring or polishing pads, gloves and the like

10%

20%

76

Table, Kitchen, Other Household articles etc.

10%

20%

7907

Zinc Articles

7.5%

10%

8007

Other Articles of Tin

5%

10%

8301

8304

8305

8306

8310

Padlocks And Locks (Key, Combination Or Electrically Operated), Of Base Metal; Clasps And Frames With Clasps, Incorporating Locks, Of Base Metal; Keys For Any Of The Foregoing Articles, Of Base Metal

Filing, Cabinets, Card-Index Cabinets, Paper, Trays, Paper Rests, Pen Trays, Office-Stamp Stands And Similar Office Or Desk Equipment, Of Base Metal, Other Than Office Furniture Of Heading 9403

Bells, Gongs And The Like, Non-Electric, Of Base Metal; Statuettes And Other Ornaments, Of Base Metal; Photograph, Picture Or Similar Frames, Of Base Metal; Mirrors Of Base Metal.

Sign-Plates, Name-Plates, Address-Plates And Similar Plates, Numbers, Letters And Other Symbols, Of Base Metal, Excluding Those Of Heading 9405

10%

20%

84

8418 10 10

8418 30 10

8418 30 90

8418 40 10

8418 40 90

8418 50 00

8418 61 00

8418 69 10

8418 69 20

8418 69 24

8418 69 50

8418 69 90

Refrigerating Equipment like Freezers etc.

7.5 – 10%

15%

8414 30 00

8414 80 11

Compressors of a kind used in refrigerating – equipment

Of a kind used in air-conditioning equipment

10%

12.5%

8540 11

Colour Television Picture Tubes for use in the manufacture of Cathode Ray Televisions

0%

10%

8702

8704

Newly Built Units (CBU ´ s) of Commercial Electric Vehicles

25%

40%

8703

Semi Knocked Down (SKD) forms of Electric Passenger Vehicles, Three Wheeler

15%

30%

8702

8704

8711 using

Semi Knocked Down (SKD) forms of Electric Passenger Vehicles, Bus, Trucks and Two Wheeler

15%

25%

8702

8703

8704

8711 using

Completely Knocked Down (CKD) forms of electric vehicles, Passenger Vehicles, Bus & Truckes, Three Wheelers, Two Wheelers

10%

15%

9401

9403

9404

9405

Seats (Other Than Those Of Heading 9402), Whether Or Not Convertible Into Beds, And Parts Thereof

Other Furniture And Parts Thereof

Mattress Supports; Articles Of Bedding And Similar Furnishing (For Example, Mattresses, Quilts, Eiderdowns, Cushions, Pouffes And Pillows) Fitted With Springs Or Stuffed Or Internally Fitted With Any Material Or Of Cellular Rubber Or Plastics, Whether Or Not Covered

Lamps And Lighting Fittings Including Searchlights And Spotlights And Parts Thereof, Not Elsewhere Specified Or Included; Illuminated Signs, Illuminated Name-Plates And The Like, Having A Permanently Fixed Light Source, And Parts There

20%

25%

9503

Tricycles, Scooters, Pedal Cars And Similar Wheeled Toys; Dolls' Carriages; Dolls; Other Toys; Reduced-Size ("Scale") Models And Similar Recreational Models, Working Or Not; Puzzles Of All kinds

20%

60%

Source:India Budget