Full Basic Customs Duty Exemption Given to Certain Infrastructure Sectors

The Finance Minister ShriPranab Mukherjee has announced full exemption from basic customs duty and a concessional CVD of 1% to Steam coal for a period of two years till March 31, 2014. While presenting the Union Budget 2012-13 in LokSabha today Shri Mukherjee also proposed full exemption from basic duty to Natural Gas and Liquified Natural Gas and Uranium concentrate, Sintered Uranium Dioxide in natural and pellet form.

Full exemption from import duty on specified equipment imported for road construction by contractors of Ministry of Road Transport and Highways, NHAI and State Governments is being extended to contracts awarded by Metropolitan Development Authorities. Tunnel boring machines and parts for their assembly are covered by this exemption. Shri Mukherjee proposed to allow their import free of duty without end-use condition.

Source : Equity Bulls

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