Changes in Budget
    • Changes in Customs tariff ( Rates)
       • Make in India theme
       • Reduction in duty on raw materials
       • Increase in duty on finished goods  
    • Significant Changes in Legislative Changes in Customs Act, 
      1962
    • Changes in Customs tariff Act, 1975
   National Academy of Customs, Indirect Taxes and Narcotics 
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                           (NACIN)
                        Budgetary Changes
    • Customs Duty Rates
       • Customs Tariff: Notification No. 6/2018-Customs to No. 
         23/2018-Customs all dated 2nd February, 2018
    • Central Excise Duty Rates
       • Notification No. 1/2018-CE to No.13/2018-CE all dt 2nd 
         February, 2018
    • Provisional Collection of Taxes Act, 1931
       • Above Proposals take effect from the midnight of 1st 
         February I 2nd February, 2018.
    • Legislative Changes- Effective w.e.f date when Finance Act will 
      comes into force 
       • Customs Act, 1962; Customs Tariff Act, 1975
   National Academy of Customs, Indirect Taxes and Narcotics 
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                     Social Welfare Surcharge
    • Education Cess and H. Ed Cess … removed
    • Social Welfare Charge introduced
       • to provide for finance education, health and social security 
       • @10% on the aggregate of duties, taxes and cesses  which 
         are levied and collected under Section 12 of Customs Act, 
         1962
       • and any sum chargeable on the goods specified in sub-
         section (1) under any other law for the time being in force,
       • Not levied on ADD/Safeguard Duty/Countervailing duty
   National Academy of Customs, Indirect Taxes and Narcotics 
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                           (NACIN)
                 Social Welfare Surcharge (Contd)
    • The provisions of the Customs Act, 1962 and the rules and 
      regulations  made thereunder, shall, apply in relation to the 
      levy  and  collection  of  the  Social  Welfare  Surcharge  as  they 
      apply in relation to the levy and collection of duties of customs 
    • Levy of Social Welfare Surcharge on Integrated Tax and GST 
      Compensation Cess on imported goods 
       • fully exempted by Notification No. 13/2018- Customs 
         dated 02.02.2018 
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                           (NACIN)
                           CBEC to CBIC
    • Name of Central Board of Excise and Customs is being 
      changed to Central Board of Indirect Taxes and Customs, with 
      consequential amendments in the following Acts: -
       •  The Central Boards of Revenue Act, 1963 (54 of 1963)
       •  The Customs Act, 1962 (52 of 1962)
       •  The Central Goods and Services Tax Act, 2017 (12 of 2017)
    This amendment will be effective from the date of enactment of 
    the Finance  Bill 2018.
    Section 2(6) of CA, 62 will read as 
    "Board" means the Central Board of Excise Indirect Taxes and 
    Customs constituted under the Central Boards of Revenue Act, 
    1963 (54 of 1963)]
   National Academy of Customs, Indirect Taxes and Narcotics 
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                           (NACIN)