You are here: Home » Government Press Release » News
Business Standard

Social Welfare Surcharge, On Imported Goods, To Provide For Social Welfare Schemes Of The Government

Delhi 

Social Welfare Surcharge, On Imported Goods, To Provide For Social Welfare Schemes Of The

The Union Minister for Finance and Corporate Affairs, Shri Arun Jaitley proposed to abolish the Education Cess and Secondary and Higher Education Cess on imported goods, and in its place impose a Social Welfare Surcharge. While presenting the General Budget 2018-19 in Parliament today, Shri Jaitley elaborated that the Social Welfare Surcharge at the rate of 10% of the aggregate duties of Customs, on imported goods, will help provide for Social Welfare Schemes of the

The Finance Minister said that Goods which were hitherto exempt from Education Cesses on imported goods will, however, be exempt from this Surcharge. In addition, certain specified goods (as mentioned in the Annexure 6 to the Budget speech) will attract the proposed Surcharge at the rate of 3% of the aggregate duties of customs only.

DSM/OK/RM/SBS/KMN

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, February 01 2018. 00:20 IST