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GTRI urges simplified customs duty structure to boost manufacturing and exports
According to GTRI, currently, 85% of tariff revenue is generated from just 10% of tariff lines or product categories, while 60% of tariff lines account for less than 3% of total revenue. Read more
Budget 24-25: Customs duty reforms will help manufacturing and promote exports
New customs duty rates are proposed for commodities from lifesaving medicines to rare earth minerals.Read more
Industry urges customs duty cuts for green hydrogen viability in India
Renewable energy devices such as solar modules face substantial customs duties and taxes upon import, rendering the establishment of Green Hydrogen facilities economically uncompetitive, according to experts.Read more
Budget 2021 aims to rationalise duties; proposes changes to benefit MSMEs
To benefit MSMEs, budget proposes to increase duty on steel screws, plastic builder wares and on certain auto parts. The budget 2021 proposes to review 400 old exemptions in the custom duty structure this year.Read more
Budget announces changes in customs duty for some products
Import of defence equipment, currently not manufactured in India, are being exempted from the basic customs duty, said Finance Minister Nirmala SitharamanRead more