Indian Budget 2014
All budget related news and information at one place.
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• Notifications :

  Customs (Tariff) Notifications:-

  • Notification No. 11/2014-Customs -Seeks to amend notification No. 24/2005-Customs dated 1st March 2005 so as to levy BCD @ 10% on specified telecommunication products not covered under the ITA.
  • Notification No. 12/2014-Customs-Seeks to amend notification No. 12/2012-Customs, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.
  • Notification No. 13/2014-Customs-Seeks to amend notification No. 81/2005-Customs, dated the 08th September, 2005 so as to reduce BCD to 5% on machinery required for setting up of compressed bio-gas (Bio-CNG) projects.
  • Notification No. 14/2014-Customs-Seeks to amend notification No. 01/2011-Customs, dated the 06th January, 2011 so as to reduce BCD to 5% and CVD to Nil on machinery for initial setting up of solar energy production projects.
  • Notification No. 15/2014-Customs-Seeks to amend notification No. 27/2011 Customs, dated the 01st March, 2011 so as to increase the export duty on Bauxite from 10% to 20%.
  • Notification No. 16/2014-Customs-Seeks to amend notification No. 09/2012 Customs, dated the 09th March, 2012 so as to increase the variation levels in respect of re-import of cut and polished diamonds.
  • Notification No. 17/2014-Customs-Seeks to amend notification No. 10/2008 Customs, dated the 15th January, 2008 so as to delete tariff item 3903 19 90 in respect of CECA.
  • Notification No. 18/2014-Customs-Seeks to amend notification No. 13/2012 Customs, dated the 17th March, 2012 so as to provide for levy of education cess on CVD portion of customs duty leviable on imported IT products.
  • Notification No. 19/2014-Customs-Seeks to amend notification No. 14/2012 Customs, dated the 17th March, 2012 so as to provide for levy of secondary and higher education cess on CVD portion of customs duty leviable on imported IT products.
  • Notification No. 20/2014-Customs-Seeks to amend notification No. 39/96-Customs, dated the 23rd July, 1996 so as to omit the words ‘Portable X-ray machine/system’ and to provide exemption for goods imported by NTRO.
  • Notification No. 21/2014-Customs-Seeks to amend notification No. 21/2012 Customs, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.
  • Notification No. 22/2014-Customs-Seeks to amend notification No. 84/97-Customs, dated the 11th November, 1997 so as to allow transfer/sale/re-export goods imported prior to 1.3.2008 for use in projects financed by the UN or an international organization.
  • Notification No. 23/2014-Customs-Seeks to exempt from customs duty goods required for the National AIDS Control Programme funded by GFATM.
  • Notification No. 24/2014-Customs-Seeks to amend notification No. 51/96-Customs, dated the 23rd July, 1996 so as to provide flexibility in securing registration from DSIR to avail duty benefit for setting up of R&D units.
  • Notification No. 25/2014-Customs-Seeks to amend notification No. 230/86-Customs, dated the 3rd April, 1986 so as to notify concerned State Governments as sponsoring authority for Metro Rail Projects covered under the Project Import Regulations, 1986.

  Central Excise (Tariff) Notifications:-

  • Notification No. 08/2014-CE-Seeks to amend notification No. 1/2011-CE, dated the 1st March, 2011 so as to make necessary changes in the specified entries therein.
  • Notification No. 09/2014-CE-Seeks to amend notification No. 2/2011-CE, dated the 1st March, 2011 so as to make necessary changes in the specified entries therein.
  • Notification No. 10/2014-CE-Seeks to amend notification No. 64/95-CE, dated the 16th March, 1995 so as to provide full exemption from excise duty to goods supplied to NTRO.
  • Notification No. 11/2014-CE-Seeks to amend notification No. 108/95-CE, dated the 28th August, 1995 so as to allow transfer/sale of goods procured prior to 1.3.2008 for use in projects financed by the UN or an international organization.
  • Notification No. 12/2014-CE-Seeks to amend notification No. 12/2012-CE, dated the 17th March, 2012 so as to make necessary changes in the specified entries therein.
  • Notification No. 13/2014-CE-Seeks to exempt from excise duty goods required for the National AIDS Control Programme funded by GFATM
  • Notification No. 14/2014-CE-Seeks to amend notification No. 33/2005-CE, dated the 8th September, 2005 so as to provide for full exemption from excise duty on machinery required for setting up of compressed biogas plant (Bio-CNG).
  • Notification No. 15/2014-CE-Seeks to amend notification No. 15/2010-CE, dated the 27th February, 2010 so as to provide for exemption of excise duty on machineries required for initial setting up of solar energy production projects.
  • Notification No. 16/2014-CE-Seeks to amend Notification No. 42/2008-CE, dated the 1st July, 2008 so as to prescribe new rate of duty to Pan Masala and Gutkha.
  • Notification No. 17/2014-CE-Seeks to amend Notification No. 16/2010-CE, dated the 27th February, 2010 so as to prescribe new rate of duty to unmanufactured tobacco and chewing tobacco.
  • Notification No. 18/2014-CE-Seeks to amend Notification No. 23/2003-CE, dated the 31st March, 2003 so as to avoid double levy of cess on DTA clearances 100% EOUs.
  • Notification No. 19/2014-CE-Seeks to amend Notification No. 67/1995-CE, dated the 16th March, 1995 so as to exempt intermediate goods manufactured and consumed captively for further manufacture of matches.
  • Notification No. 20/2014-CE-Seeks to rescind Notification No. 03/2010-CE, dated the 22nd June, 2010 so as to increase rate of Clean Energy Cess.

  Central Excise (Non Taiff) Notifications:-

  • Notification No. 17/2014-CE-Seeks to amend Notification No. 49/2008-CE (NT), dated 24th December, 2008.
  • Notification No. 18/2014-CE-Seeks to specify class of persons for the purposes of section 23A of the Central Excise Act, 1944.
  • Notification No. 19/2014-CE-Seeks to amend Central Excise Rules, 2002
  • Notification No. 20/2014-CE-Seeks to amend Central Excise Valuation Rules, 2008
  • Notification No. 21/2014-CE-Seeks to amend Cenvat Credit Rules, 2004
  • Notification No. 22/2014-CE-Seeks to amend Pan Masala Packing Machines (Capacity Determination and Collection of Duty) Rules, 2008

  Customs (Non Taiff) Notifications:-

  • Notification No. 50/2014-CE -Seeks to amend notification No. 30/98-Customs (NT) dated 2nd June 1998 so as to amend Baggage Rules, 1998.
  • Notification No. 51/2014-CE-Seeks to specify class of persons for the purposes of section 28E of the Customs Act, 1962.

        Service Tax Notifications:-

• Notification No. 06/2013-Service Tax-Seeks to amend notification No. 25/2012- Service Tax, dated the 20th June, 2012, so as to amend certain existing entries granting exemption on specified services and inserting new entries for granting exemption from service tax on specified services
• Notification No. 07/2013-Service Tax-Seeks to amend notification No.12/2013-ST dated 1st July, 2013, relating to exemption from service tax to SEZ Units or the Developer.
• Notification No. 08/2013-Service Tax-Seeks to amend notification No. 26/2012- Service Tax, dated 20th June, 2012, so as to make necessary amendments in the specified entries prescribing taxable portion and the conditions for availing the exemption therein.
• Notification No. 09/2013-Service Tax-Seeks to amend the Service Tax Rules,1994 so as to prescribe,-(i) the person liable to pay service tax for certain specified services and (ii) mandatory e-payment of service tax for all the assessees, with effect from 1st October,2014.
• Notification No. 10/2013-Service Tax-Seeks to amend the notification No.30/2012-ST dated 20th June,2012, so as to prescribe, the extent of service tax payable by the service provider and the recipient of service, for certain specified services.
• Notification No. 11/2013-Service Tax-Seeks to amend the Service Tax (Determination of Value) Rules, 2006 so as to prescribe the percentage of service portion in respect of works contracts, other than original works contract.
• Notification No. 12/2013-Service Tax-Seeks to notify the interest rate applicable in cases of delayed payment of service tax for the purposes of section 75 of the Finance Act, 1994.
• Notification No. 13/2013-Service Tax-Seeks to amend the Point of Taxation Rules, 2011, to prescribe the point of taxation for the services on which person liable to pay service tax is the recipient.
• Notification No. 14/2013-Service Tax-Seeks to amend the Place of Provision of Services Rule, 2012, to prescribe or modify the place of provision of services for certain specified services.
• Notification No. 15/2013-Service Tax-Seeks to specify the class of persons for the purposes of section 96A of the Finance Act,1994
• Circular 178-4-2014-Service Tax-Manner of distribution of common input service credit under rule 7(d) of the Cenvat Credit Rules, 2004 -- regarding.