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    The CBIC Raises the AIDC on Platinum and Rhodium Imports

    Published Tue, 29 Nov 2022 | Updated Tue, 29 Nov 2022

    Through the powers given by Section 25, Sub-Section (1) of the Customs Act, 1962 (52 of 1962) to be read with Section 124 of the Finance Act, 2021 (13 of 2021), the Central Board of Indirect Taxes & Customs (CBIC) increased the AIDC for Importing Platinum and Rhodium on October 3, 2022. The Central Government of India, considering the benefit of the public's interest, issued amendments in the notification of the Government of India, in the (E). The Table after Sl. No. 15 in the aforementioned announcement is to be added.

      (1)

    (2)

                  (3)

      (4)



     

    15A



     


     

    7110



     

    Goods, other than the following: -

    (a) Platinum and Palladium for use in the manufacture of: -

    (i) all goods, including Noble Metal Compounds and Noble Metal Solutions, falling under heading 2843; (ii) all goods falling under sub-heading 3815 12; 

    (iii) catalytic convertors falling under tariff item 8421 32 00; Provided that the importer follows the procedure set out in the Customs (Import of Goods at Concessional Rate of Duty or for Specified End Use) Rules, 2022; 

    (b) Rhodium



     

    1.50%