SCMCube - Key Highlights about Union Budget 2023/24

 

     According to Union   Finance Minister Nirmala Sitharaman's speech in  Lok Sabha on February 1,2023. There were minor  changes in the basic customs duties,cesses and surcharges on some items including  Toys, Bicycles, Automobiles and Naphtha.

                     

Important Highlights of the Union Budget – 2023
  • The government also proposed to reduce customs duty on the import of certain inputs for mobile phone manufacturing. Customs duty on parts of open cells of TV panels cut to 2.5%.
  • Basic custom duty on acyclic & cyclic hydrocarbons rationalized to 2.5%.
  • The Union Budget proposed an increase in the basic customs duty on compounded rubber from 10% to 25% or ₹30 per kg, whichever was lower, at par with natural rubber, other than latex.
  • To address the current account deficit (CAD) and surging imports of the yellow metal, the Centre increased the import levy on gold from 10.75 per cent to 15 per cent in July of this year. 12.5 per cent is the standard customs charge on gold.
  • For bicycles, the new rate is 35% as against existing 30%; for toys and parts of toys, other than parts of electronic toys, it will be 70% (60%). BCD on naphtha has been increased from 1% to 2.5%.
  • Customs duty on electric vehicles in completely built units (CBUs), other than with cost, insurance and freight (CIF) value of more than $40,000 has been raised to 70%, from 60%.

Our Products

                                 IMPEXCube  |   FREIGHTCube   |  WMSCube

                               TMSCube    |      EXIMLink       |  FACube



                                        For More Details👉CLICK HERE👈 For Blog


Contact Us: 
                   👍For Free Demo Click here
                      📧 info@scmcube.in

TMSCu

be

Comments

Post a Comment

Popular posts from this blog

Customs Clearance Software

Image
  Impex-Cube is a web-based, ERP tool that is one of the on-demand Customs Clearance Software for Custom House Agents and Customs Brokers in India. It facilitates an end-to-end solution for customs Brokers with regards to digitally managing the entire customs clearance procedure, preparing documents and filing to the department, data uploading, and CSV file generation. To comply with the customs Norms IMPEXCUBE always pay attention to the released requirements & adheres to the guidelines of Indian Customs. Impex-Cube enables the flexibility to file documents to any port by the Custom House Agents (CHA) and shippers from any location. The customs clearance software enables the generation of all the required forms, reports, and letters that facilitate transparency into the customs clearance operations. It is full of the features like storing the customs notifications, tariffs, press released, auto calculation of the duty levied, and the checklist for approval before submitting...
Read more

Transport Management Software in India - TMSCube

Image
    TMS Cube allows transporters to automate their business requirements regarding growing productivity, cost-effectiveness, efficiency and reliability. It helps in business expansion by automating the entire process and managing the business with clearness in cost as well as resources. TMS  Cube features : Fleet, equipment and personnel management. Master route management with access restrictions at stops Forward and Backward planning support Consolidation of all transportation orders Transport route track and trace. Monitoring of operational transport processes Flexible billing models with automated or manual invoicing Web portal for sharing information with stakeholders Compliance with regulations and applicable laws For more details visit our page Contact Us: riyaz @scmcube.in For free demo Click here
Read more

What is Knowledge Process Outsourcing (KPO)

Image
KPO stands for Knowledge Process Outsourcing . The services of KPO include research, information gathering, etc. It is regarded as an information-driven process. Our aim for every customer business will be to build a customizable value with the help of their client's business expertise thus resulting in first-class productivity. Here comes the KPO process for the logistics business, we provide such professional KPO experts for the enhancement of an organization. Our Technical experts with advanced analytical skills will help to mainly focus on their customer business. A tree table representation of the KPO process is given below        KPO services are broadly classified into four kinds of services: Data Analytics and Insights: Addressing business problems across industries and domains to empower organizations with actionable insights through cutting-edge data analytics Market Research/ Business Research: Providing research services and strategy consulting for accura...
Read more