Budget 2023 Highlights: Customs Duty

  1. National Calamity Contingent Duty (NCCD) on specified cigarettes was increased.
  2. Increasing the duty on silver dore, bars, and articles to align with gold and platinum, as well as on jewelry made from precious metals including gold, silver, and platinum.
  3. Extension is granted to the exemption from BCD on raw materials for manufacturing CRGO Steel, ferrous scrap and nickel cathode.
  4. Reduction in the basic customs duty on seeds used to manufacture Lab Grown Diamonds (LGD).
  5. The basic customs duty on the electric kitchen chimneys has been increased.
  6. Reduction in the basic customs duty on parts of open cells of TV panels to encourage domestic manufacturing of television.
  7. Imports of capital goods and machinery used to manufacture lithium-ion cells for batteries in electric vehicles will continue to be exempt from customs duties.
  8. Exemption is also granted for excise duty on GST-paid compressed bio-gas used in blended compressed natural gas.
  9. On certain consumables imported, such as toys, bicycles, automobiles, and naphtha, minor changes are made to basic customs duties, cesses, and surcharges.
  10. The customs duties were revised on the following list of items-
  • Imported capital goods for lithium-ion battery manufacturing.
  • Imported mobile camera lens.
  • Denatured ethyl alcohol.
  • Primary inputs for making shrimp feed.
  • Seeds for manufacturing lab-grown diamonds.
  • Extending the concessional Basic Customs Duty (BCD) on copper scrap.
  • Compounding rubber to bring it at par with natural rubber.

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