The Central Board of Indirect Tax and Customs (‘CBIC’) vide Circular No. 20/2022-Customs dated September 22, 2022, has clarified certain aspects for correct classification of Cranes Lorries or All Terrain Cranes.
Background
The dispute in classification of cranes is due to difference in rate of Basic Customs Duty (‘BCD’) and Goods and Services Tax (‘GST’) for Tariff Headings (‘TH’) 8426 and 8705*.
Source Gaba & Co
