00:00Indirect Taxes. I shall now take up proposals related to indirect taxes. My proposals for customs and central excise aim to further simplify the tariff structure, support domestic manufacturing, promote export competitiveness and correct inversion in duty.
00:19To continue weeding out long-continuing customs duty exemptions, I propose to remove certain exemptions on items which are being manufactured in India or where the imports are negligible.
00:37Similarly, to further simplify the process of ascertaining the rate of duty applicable on a particular item, I propose to incorporate certain effective rates in various customs notifications to the tariff schedule itself.
00:54I shall now take up sector-specific proposals.
00:59Promotion of exports of marine, leather and textile products.
01:03I propose to increase the limit for duty-free imports of specified inputs used for processing seafoods for export from the current 1% to 3% of FOB value of the previous year's export turnover.
01:23I also propose to allow duty-free imports of specified inputs, which is currently available for exports of leather or synthetic footwear to exports of shoe uppers as well.
01:39I propose to extend the time period for export of final product from the existing 6 months to 1 year for exporters of leather or textile garments, leather or synthetic footwear and other leather products.
01:58I propose to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries to those used for manufacturing lithium-ion cells for battery energy storage systems also.
02:18So, I propose to extend the existing basic customs duty on import of sodium anti-monate for use in manufacture of solar glass.
02:29Nuclear power, I propose to extend the existing basic customs duty exemption on imports of goods required for nuclear power projects till the year 2035 and expand it for all nuclear plants irrespective of their capacity.
02:50Critical minerals, it is proposed to provide basic customs duty exemption to the import of capital goods required for the processing of critical minerals in India.
03:06Biogas blended CNG.
03:08I propose to exclude the entire value of biogas while calculating the central excise duty payable on biogas blended CNG.
03:20Civil and defence aviation.
03:24I propose to exempt basic customs duty on components and parts required for the manufacture of civilian training and other aircrafts.
03:35It is proposed to exempt basic customs duty on raw materials imported for the manufacture of parts of aircraft to be used in maintenance, repair or overall requirements by units in the defence sector.
03:53Electronics.
03:54Electronics.
03:55Electronics.
03:56Electronics.
03:57To deepen value addition in the consumer electronics sector, I propose to exempt basic customs duty on specified parts used in the manufacture of microwave ovens.
04:08Special economic zones.
04:11To address the concerns arising about utilisation of capacity by manufacturing units in the special economic zones due to global trade disruptions,
04:23I propose as a special one-time measure to facilitate sales by eligible manufacturing units in SEZs to the domestic tariff area at concessional rates of duty.
04:38The quantity of such sales will be limited to a prescribed proportion of their exports.
04:47Necessary regulatory changes will be undertaken to operationalise the measures while ensuring level playing field for the units working in the DTA.
05:00Ease of living.
05:01Ease of living.
05:02To rationalise the customs duty structure for goods imported for personal use, I propose to reduce the tariff rate on all dutiable goods imported for personal use from 20% to 10%.
05:18To provide relief to patients, particularly those suffering from cancer, I propose to exempt basic customs duty on 17 drugs or medicines.
05:35I propose also to add 7 more rare diseases for the purposes of exempting import duties on public transport.
05:48Personal imports of drugs, medicines and food for special medical purposes used in their treatment.
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