{"id":35972,"date":"2022-03-11T18:25:57","date_gmt":"2022-03-11T12:55:57","guid":{"rendered":"https:\/\/www.cagmc.com\/?p=35972"},"modified":"2024-06-01T16:13:32","modified_gmt":"2024-06-01T10:43:32","slug":"significant-changes-in-the-areas-of-customs-and-excise-under-union-budget-2022","status":"publish","type":"post","link":"https:\/\/www.cagmc.com\/blog\/significant-changes-in-the-areas-of-customs-and-excise-under-union-budget-2022\/","title":{"rendered":"Significant Changes in the areas of Customs and Excise under Union Budget 2022"},"content":{"rendered":"<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone wp-image-35974 size-full\" src=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1.png\" alt=\"Significant Changes in the areas of Customs and Excise under Union Budget 2022\" width=\"1200\" height=\"630\" srcset=\"https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1.png 1200w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1-300x158.png 300w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1-1024x538.png 1024w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1-615x323.png 615w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1-400x210.png 400w, https:\/\/www.cagmc.com\/blog\/wp-content\/uploads\/2022\/03\/Significant-Changes-in-the-areas-of-Customs-and-Excise-under-Union-Budget-2022-1-292x153.png 292w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">On Tuesday, February 1st, 2022, <\/span><span style=\"font-weight: 400;\">the Union <a href=\"https:\/\/www.cagmc.com\/indian-union-budget-2022-23\/\">Budget 2022<\/a><\/span><span style=\"font-weight: 400;\"> was presented to Parliament. Finance Minister Smt. Nirmala Sitharaman proposed many reforms in Customs, Central Excise, <\/span><span style=\"font-weight: 400;\">GST law<\/span><span style=\"font-weight: 400;\">, and rates while presenting the second digital Union Budget. Unless otherwise noted, all changes in duty rates will take effect on the 1st\/ 2nd February 2022 at midnight. The other legal changes would take effect only once the Finance Bill of 2022 is enacted, or on May 1, 2022. Let\u2019s get deeper knowledge about Changes under Custom and Excise in Union Budget 2022.<\/span><\/p>\n<table style=\"width: 100%;\">\n<tbody>\n<tr>\n<td style=\"border: 1px solid #555;\">\n<p style=\"text-align: justify;\"><strong>Table of Contents<\/strong><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Changes\"><span style=\"font-weight: 400;\">Changes suggested in Customs\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Notifications\"><span style=\"font-weight: 400;\">Notifications and dates for changes in Customs<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Significant\"><span style=\"font-weight: 400;\">Significant adjustments (including cesses) under Customs and Central Excise Duty\u00a0<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#What\"><span style=\"font-weight: 400;\">What are the amendments made in Customs Traffic Act, 1975?<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Amendments\"><span style=\"font-weight: 400;\">Amendments in Custom Rules<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Rates\"><span style=\"font-weight: 400;\">Rates of Additional Excise Duty on Unblended Petrol and Diesel<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Duty\"><span style=\"font-weight: 400;\">Duty concessions for bona fide exporters<\/span><\/a><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><a href=\"#Conclusion\"><span style=\"font-weight: 400;\">Conclusion<\/span><\/a><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<h2 id=\"Changes\" style=\"text-align: justify;\"><b>Changes suggested in Customs<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Adjustments are expected in the form of a reduction in the rate of duty on imported items. Basic <\/span><span style=\"font-weight: 400;\">Customs duty<\/span><span style=\"font-weight: 400;\"> on copper ores and concentrates is scheduled to be decreased from 2.5 percent to nil. This will bring relief to the country&#8217;s iron and steel industry. Customs duty on replacement parts used in the manufacture of medical equipment, which is currently subject to an inverted duty structure, should be decreased as well.<\/span><\/li>\n<li id=\"Notifications \">Similarly, the rate of duty on crucial raw materials used by aluminium manufacturers is likely to reduce. Gold&#8217;s basic customs charge is also scheduled to be decreased from 7.5 percent to 4%.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Notifications and dates for changes in Customs<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">On, February 1, 2022, the Finance Minister introduced the Finance Bill 2022 in the Lok Sabha. The<a href=\"https:\/\/www.cagmc.com\/key-changes-in-gst-in-finance-bill-of-year-2022-2023\/\"> Finance Bill of 2022<\/a> proposes changes to Customs, Central Excise, GST law, and rates.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The following notifications are being issued to regulate effective rates of duty:<\/span><\/p>\n<table>\n<tbody>\n<tr>\n<td><\/td>\n<td><span style=\"font-weight: 400;\">Notification no.<\/span><\/td>\n<td><span style=\"font-weight: 400;\"> \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 \u00a0 Date<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Customs Tariff<\/span><\/td>\n<td><span style=\"font-weight: 400;\">02\/2022-Customs to 15\/2022-Customs.<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Customs (Non-Tariff)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">07\/2022-Customs (N.T.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Customs (ADD)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">05\/2022-Customs (ADD) to 07\/2022- Customs(ADD)\u00a0\u00a0<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Customs (CVD)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01\/2022-Customs(CVD<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Central Excise<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01\/2022-Central Excise<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Central Excise (N.T.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">01\/2022-Central Excise (N.T.)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Circular (Central Excise)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1082\/03\/2022-CX<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<tr>\n<td><span style=\"font-weight: 400;\">Circular (Customs)<\/span><\/td>\n<td><span style=\"font-weight: 400;\">3\/2022-Customs<\/span><\/td>\n<td><span style=\"font-weight: 400;\">1st February, 2022<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p id=\"Significant\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">Unless stated, all modifications in duty rates will take effect on the 1st\/ 2nd February 2022 at midnight. In relation to clause 97 (a) of the Finance Bill, 2022, a declaration has been issued under the <\/span><span style=\"font-weight: 400;\">Provisional Collection of Taxes Act, 1931<\/span><span style=\"font-weight: 400;\">, so that the amendments proposed therein take effect from midnight on the 1st February\/ 2nd February 2022. The other legal changes would take effect only once the <\/span><a href=\"https:\/\/www.cagmc.com\/key-changes-in-gst-in-finance-bill-of-year-2022-2023\/\"><span style=\"font-weight: 400;\">Finance Bill<\/span><\/a><span style=\"font-weight: 400;\"> of 2022 is enacted, or on May 1, 2022.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Significant adjustments (including cesses) under Customs and Central Excise Duty<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Changes in customs duty rates:<\/b><span style=\"font-weight: 400;\"> changes in duty rates, tariff rates, the exclusion of certain exemptions and adjustments to certain exclusions, conditions to exemptions, and explanations relating to the applicability of SWS, among other things.<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Tariffisation:<\/b><span style=\"font-weight: 400;\"> To simplify the tariff system, an extensive effort was carried out. The Customs Tariff Act&#8217;s Tariff (First) Schedule is being updated to include unconditional concessional rates that have been imposed through various announcements. These modifications to the tariff rate will take effect on May 1, 2022. As a result, with effect from May 1, 2022, the appropriate entries in the concerned notices shall be omitted. The <\/span><span style=\"font-weight: 400;\">tariff rates<\/span><span style=\"font-weight: 400;\"> on such items will then be governed by the 1975 Customs Tariff Act&#8217;s First Schedule. It should be noted, however, that certain Customs Tariff rate modifications are effective immediately as a result of a declaration made under the Provisional Collection of Taxes Act.<\/span><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li aria-level=\"1\"><b>Changes to the Customs Act, the Customs Tarff Act, and the Rules promulgated hereunder<\/b><\/li>\n<\/ul>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The concept of a &#8220;proper officer&#8221; is being changed, and officers from the DRI, Audit, and Preventive formation are now officially included in the category of Customs officers.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In some circumstances, as the Board may define, concurrent jurisdiction is provided.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">In circumstances involving short levy\/payment of duty, erroneous refunds, and so forth, explicit provisions are being created to clarify jurisdiction.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The assignment of functions to Customs officers is explicitly stated.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Enablement provisions are also being included to combat the threat of systemic undervaluation.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The procedures for Advance Ruling are being streamlined.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Unauthorized release of <\/span><a href=\"https:\/\/www.cagmc.com\/import-export-code\/\"><span style=\"font-weight: 400;\">import or export<\/span><\/a><span style=\"font-weight: 400;\"> data would be made illegal under the <\/span><span style=\"font-weight: 400;\">Customs Act<\/span><span style=\"font-weight: 400;\">, according to a new clause.<\/span><\/li>\n<\/ul>\n<p id=\"What\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The <\/span><span style=\"font-weight: 400;\">Import of Goods Concessional Rate of Duty (IGCR) Rules, 2017<\/span><span style=\"font-weight: 400;\">, has been completely amended in a major trade facilitation step. The entire process is being automated from beginning to end; multiple forms are being standardized, and any transaction-based permissions or intimations are being eliminated. Under these standards, periodic statements must also be submitted via a single platform.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>What are the amendments made in Customs Traffic Act, 1975?<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">The First Schedule to the Customs Tariff Act shall\u2013\u2013<\/span><\/p>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Be amended in the manner specified in the Second Schedule to the Finance Bill, 2022, with effect from February 2, 2022, to revise the rates in respect of certain tariff items<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Amended in the manner specified in the Third Schedule to the Finance Bill, 2022, with effect from May 1, 2022, to harmonise certain entries with the Harmonised System of Nomenclature to create new tariff lines in respect of certain tariff items.<\/span><\/li>\n<\/ul>\n<h2 id=\"Amendments\" style=\"text-align: justify;\"><b>Amendments in Custom Rules<\/b><\/h2>\n<ul style=\"text-align: justify;\">\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Automate the entire procedure from beginning to end. The requirement of electronically providing all relevant details through a shared gateway is stated in the Rules.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Standardizing and notifying the numerous forms that need electronic submission of information.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">By taking use of the electronic nature of such submissions, transaction-based clearances and intimations are no longer required.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A Monthly Statement is being proposed for effective monitoring of the usage of products for the stated purposes, which will be filed by the importer on the Common Portal.<\/span><\/li>\n<li id=\"Rates\">The importer has the option of paying the applicable duties and interest on a voluntary basis using the Common Portal.<\/li>\n<\/ul>\n<h2 style=\"text-align: justify;\"><b>Rates of Additional Excise Duty on Unblended Petrol and Diesel<\/b><\/h2>\n<p id=\"Duty\" style=\"text-align: justify;\"><span style=\"font-weight: 400;\">To encourage the blending of Motor Spirit (Petrol) with ethanol\/methanol and High-Speed Diesel with bio-diesel, an extra Basic Excise Duty of Rs. 2 per liter will be imposed on Petrol and Diesel sold to retail consumers without blending from October 1, 2022.<\/span><\/p>\n<h2 style=\"text-align: justify;\"><b>Duty concessions for bona fide exporters<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">A plan is being created for bona fide exporters on duty-free imports for use in goods intended for export, based on end-use monitoring and the need of exporting value-added items manufactured using inputs imported under specific exemptions within a 6-month period. The importer must follow the method outlined in the <a href=\"https:\/\/www.indiabudget.gov.in\/doc\/cen\/cusnt0722.pdf\" target=\"_blank\" rel=\"noopener\">IGCR Rules<\/a>.<\/span><\/p>\n<h2 id=\"Conclusion\" style=\"text-align: justify;\"><b>Conclusion<\/b><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-weight: 400;\">In contrast with the above blog, we can conclude that there is no doubt that the changes proposed in the Budget touch every individual residing in this country, whether rich or poor, employers or employees, sellers or consumers. The policies and framework implemented in the Budget set the roadmap for the economy for at least the coming financial year.\u00a0<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On Tuesday, February 1st, 2022, the Union Budget 2022 was presented to Parliament. Finance Minister Smt. Nirmala Sitharaman proposed many [&hellip;]<\/p>\n","protected":false},"author":10,"featured_media":35974,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[89],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Significant Changes in the areas of Customs and Excise under Union Budget 2022<\/title>\n<meta name=\"description\" content=\"Latest Guide on Significant Changes in the areas of Customs and Excise under Union Budget 2022. 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