Latest Updates on Custom Duty Rates & Amendments

Certain significant changes have been made in the Customs Act, 1962 and the Customs Tariff Act, 1975. Some of the key changes in the rate of duty and exemptions are provided below:

Changes in Custom Duty Rates

Increase in Tariff rate (to be effective from 2 February 2025)

Rate of Duty

S. No.

Heading, sub-heading, tariff item

Commodity

From

8528 59 00

Interactive Flat Panel Displays

10%

20%

B.	Decrease in Tariff rate (to be effective from 1 May 2025 unless otherwise specified) Note: These changes will be effective from 2 February 2025 by issuance of notification.		Rate of Duty
S. No.	Heading, sub-heading, tariff item	Commodity	From	To
1	7113	Articles of Jewellery and parts thereof	25%	20%
2	7114	Articles of goldsmiths' and silversmiths' ware and parts thereof	25%	20%
3	8541 42 00	Solar Cells	25%	20%
4	8541 43 00, 8541 49 00	Solar Module and Other semiconductor devices and photovoltaic cells	40%	20%
5	8702	Motor vehicles for transport of 10 or more persons	40%	20%
6	8703	Motor cars and other motor vehicles principally designed for the transport of persons (other than those of heading 8702)	125%	70%
7	8704	Motor vehicles for transport of goods	40%	20%
8	8711	Motorcycles and cycles fitted with an auxiliary motor with or without side-car	100%	70%
9	8712 00 10	Bicycles	35%	20%
10	9403	Other furniture and parts thereof	25%	20%
11	9404	Mattress supports, articles of bedding and similar furnishing etc.	25%	20%
12	9405	Luminaires and lighting fittings including searchlights and spotlights and parts thereof etc.	25%	20%
13	9503 00 91	Parts of electronic toys	70%	20%
14	9802 00 00	Laboratory Chemicals	150%	70%
15	9803 00 00	All dutiable articles, imported by a passenger or a member of a crew in his baggage	100%	70%
16	9804 00 00	All dutiable goods imported for personal use.	35%	20%

OTHER KEY CHANGES IN BASIC CUSTOMS DUTY RATES IN NOTIFICATIONS
A.		Changes in Basic Customs Duty (to be effective from 02 February 2025)	Rate of Duty
		Gems and Jewellery Sector
1.	713	Platinum Findings	25%	5%
2.		Automobile
3.	8702	Motor vehicles for transport of 10 or more persons	25% / 40%	20%
4.	8703	Motor cars and other motor vehicles with CIF value more than US $40,000 or with engine capacity more than 3000 cc for petrol run vehicles and more than 2500 cc for diesel run vehicles or with both	100%	70%
5.	8704	Motor vehicles for transport of goods	25% / 40%	20%

Certain amendments in the Customs Act, 1962 and Customs Tariff Act, 1975

Section 18(1B) of the Customs Act, 1962 is proposed to be inserted to provide for definite time limit of 2 years for finalisation of provisional assessment which can be extended by another 1 year. It also provides that, for the pending cases, the time-limit shall be reckoned from the date of assent of the Finance Bill.
Section 18A of the Customs Act, 1962 is proposed to be inserted for voluntary revision of entry post clearance so as the importers and exporters may revise any entry that is made in relation to the goods within a prescribed time and according to certain conditions as may be prescribed. It also provides for treating such entry as self-assessment and allow payment of duty or treat the revised entry as a refund claim under Section 27 of the Customs Act, 1962.
It is proposed to abolish the Customs, Central Excise and Service Tax Settlement Commission with effect from 1 April 2025. The pending applications as of 31 March 2025 shall be dealt by the Interim Boards for Settlement.

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Changes in Custom Duty Rates

Certain amendments in the Customs Act, 1962 and Customs Tariff Act, 1975