Industry & Economy
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Excise and Customs
CBEC fiat on calamity duty
K.R. Srivats
New Delhi
,
June 11
THE Central Board of Excise and Customs (CBEC) has made it clear to its field formations that the National Calamity Contingent Duty (NCCD) that is payable as customs duty has not been exempted on the imports of specified goods such as crude, polyester filament yarn, motorcars, multi-utility vehicles and two-wheelers.
This duty, which was called as the National Calamity Duty of Customs (NCDC), was levied through the Finance Act 2003 as a surcharge on certain specified imported goods.
While a one per cent duty was levied on such items as NCDC, the Centre had also subjected crude, domestic or imported, to a duty of Rs 50 per tonne. Under the Finance Act, 2003, specified imported goods (including polyester texturised yarn) are chargeable to NCCD twice — once as countervailing duty under Section 136 of the Finance Act 2003 and again as customs duty under Section 134 of the Finance Act.
The Finance Ministry has now said in a circular that the Revenue Department had in May 2003 only exempted the NCCD that was collected as countervailing duty (under section 136 of the Finance Act 2003) on imported specified goods.
The Board's circular comes in the wake of divergence of practice regarding the levy of NCCD on polyester texturised yarn and other items. The field formations have now been directed to finalise assessments after ensuring that assesses obtain exemption only on the NCCD levied as countervailing duty and not on the NCDC.
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