FOREIGN TRADE POLICY 2025 BY RK JAIN -Updated Finance Act 2025

Description

The Customs Tariff, IGST & Foreign Trade Policy Rate Reckoner is a definitive, two-volume referencer that consolidates the entire spectrum of Indian customs tariff, IGST provisions, and foreign trade policy (FTP) requirements in one place. Curated with an HSN-wise approach, this reference simplifies the process of ascertaining the ‘total duty payable on import of goods into India.’ It outlines basic duty, preferential rates, exemptions, additional levies (like AIDC, SWS, NCCD, Health Cess, etc.), IGST rates, and FTP conditions, ensuring swift and accurate classification and compliance for every HSN code.

Alongside the printed volumes, book buyers receive Complimentary Access to the Always Updated Customs Tariff Tool at Centaxonline.com. This intuitive online platform provides real-time duty calculations, instant references to notifications, and policy conditions at the 8-digit HSN level.

This book is intended for the following audience:

• Tax Professionals & Consultants – Chartered accountants, company secretaries, tax lawyers, and consultants seeking a precise guide to customs and IGST compliance
• Trade & Industry Practitioners – Exporters, importers, logistics providers, customs house agents, and compliance teams who must remain current on tariff rates and EXIM policies
• Government Officials & Policymakers – Customs officers, GST officials, policy drafters, and enforcement personnel requiring a consolidated tariff manual
• Academics & Students – Researchers and students in indirect taxation, customs law, or international trade programs looking for a well-structured reference

The Present Publication is the 3^rd Edition | 2025-26, amended by the Finance Act 2025. It is edited by CA. Kishore Harjani and incorporates the following noteworthy features:

• [HSN-wise Computation]
  • Detailed breakdown of total customs duty for each HSN, covering basic duty, preferential rates, exemptions, and additional levies such as AIDC, SWS, NCCD, and Health Cess
  • Comprehensive mapping of FTP conditions to each HSN on a single page
• [Final Rate Calculation]
  • A ‘Total Customs Duty’ column in the tariff table enables you to see the final effective rate quickly
  • Wherever specific exemptions or conditions apply (and direct computation is not possible), relevant footnotes guide you to additional details
• [Anti-Dumping & Countervailing Duties] Chapter-wise references to anti-dumping, safeguard, and countervailing duties, ensuring trade protection measures are easily accessible
• [Exemption Notifications] General and chapter-specific exemptions are listed at the end of each chapter for comprehensive coverage
• [Ad Valorem Rates] Presents ad valorem rates (percentage-based) for straightforward calculation of customs duties
• [Multiple Rates for IGST] For products under the same HSN that may attract two or more IGST rates, dual entries ensure an accurate evaluation
• [Chapter-specific Circulars & Notifications] Exhaustive coverage of government circulars, notifications, and advance rulings relevant to that chapter
• [Landmark Rulings] Chapter-wise digest of important judicial precedents and case laws on classification under Customs and GST
• [Base Notifications Reference] All base notifications are cited, enabling deep dives into specific regulatory provisions
• [E-Way Bill Exemptions] Special mention of product-specific E-way bill exemptions at the end of each chapter
• [No Alteration to HSN] Exemptions, cess, and rates are seamlessly mapped without changing official HSN descriptions
• [Expert Validation] A team of subject matter experts has vetted each computation and mapping to ensure accuracy

The coverage of the book is as follows:

• Tariff Table for Import & Export
  • Volume 1 covers the First Schedule (Import Tariff | Chapters 1–98) and the Second Schedule (Export Tariff)
  • Duty columns include – Basic Customs Duty, Preferential Rate, Effective Rate (with exemptions), AIDC, Health Cess, Social Welfare Surcharge, IGST Rate, and Total Rate
  • Policy Restrictions and FTP conditions are indicated for each HSN
• General & Specific Exemptions
  • Beginning of Each Chapter – Lists general and specific exemptions applicable to that chapter
  • HSN-Level Mention – Pertinent exemptions are specifically tied to product categories
  • Footnotes – For overarching or sub-heading-level exemptions
• Anti-Dumping & Safeguard Duties
  • The End of Each Chapter notes any anti-dumping, safeguard, or countervailing duties in effect, along with relevant notifications
• Miscellaneous
  • Full texts of the Customs Tariff Act, rules on determining the origin of goods (for preferential trade agreements), baggage rules, project import regulations, and other critical annexures
  • A commodity index and a chronological list of key notifications in Volume 2 for quick lookups

The structure of the book is as follows:

• Volume 1
  • Part 1 – Customs Tariff Act, 1975 (Text)
  • Part 2 – Import Tariff (First Schedule with 98 Chapters, organised into 21 Sections)
  • Part 2A – Export Tariff (Second Schedule)
• Volume 2
  • Part 3 – General Exemptions for Import
  • Part 4 – IGST (Extracts of the IGST Act, rules, notifications, and IGST rates/exemptions)
  • Part 5 – Annexures covering Compensation Cess, Road & Infrastructure Cess, Social Welfare Surcharge, NCCD, Health Cess, Additional Duty, Special Duty, and Baggage Rules
  • Part 6 – Safeguard Duty (Rules & Notifications)
  • Part 7 – Anti-Dumping & Countervailing Duty (Rules & Notifications)
  • Part 8 – Miscellaneous (Commodity Index and Chronological List of Basic Notifications)
• Within Each Chapter:
  • Beginning – Section Notes, Chapter Notes, relevant general/specific exemptions
  • Tariff Table – Complete mapping of duty rates, additional levies, IGST, cess, total duty, and policy restrictions
  • Footnotes – Product-level or sub-heading-level exemptions/duty variations
  • End of Chapter – Anti-dumping & safeguard duties, judicial pronouncements, advance rulings, departmental clarifications, product-specific E-way Bill exemptions, and additional GST rates

This book also includes Complimentary Access to the Always Updated Customs Tariff Tool—Customs Duty Rate Calculator

• All purchasers of this book receive complimentary access to Centaxonline.com’s newly launched Customs Tariff Tool for two months. This online platform lets you:
  • Search & Classify with Ease
    • Smart Autocomplete to locate HSN codes or relevant keywords
    • Expandable Section & Chapter View for intuitive browsing
  • View Organised Duty Details
    • Get a clear list of HSN codes, item descriptions, units, and direct links to duty calculation
  • Calculate Total Import Duty in Real-time
    • Input your import value to see Basic Customs Duty, AIDC, SWS, IGST, Health Cess, etc., aggregated into a Total Import Duty (both percentage and absolute value)
    • Hyperlinked remarks connect you to relevant exemption notifications or policy conditions
  • Always Up-to-date
    • Daily Data Refresh – Reflects every newly issued amending notification
    • Annual Refresh – Incorporates changes announced in the Union Budget
  • Flexible Access Options
    • Complimentary for Book Buyers (via unique key validation)
    • Annual Stand-Alone Subscription at ₹5,000 + GST (tentative) if you wish to continue beyond the free period
    • Mobile-Responsive – Access on desktop, laptop, tablet, or phone for on-the-go convenience