 "What is Customs duty")
Customs duty
What is Customs duty
The Budget estimate of the government's
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Latest Updates on Customs duty
Tariff on most items to be in single digits in FY28 Budget: FM Sitharaman
The government aims to bring customs duty on most items to single-digit rates by the FY28 Budget while continuing tariff rationalisation and asset-focused borrowing
 "Tariff on most items to be in single digits in FY28 Budget: FM Sitharaman")
SME chatroom: Clearing doubts on deferred Customs duty and PVC import curbs
Key compliance clarifications on using RoDTEP scrips for deferred customs duty and MIP rules for PVC imports under the Advance Authorisation scheme.
 "SME chatroom: Clearing doubts on deferred Customs duty and PVC import curbs")
1991 reforms trusted mkts; now RBI should trust exporters and importers
The government responded to a grave foreign exchange crisis by progressively liberalising, rather than perpetuating restrictions on access to foreign exchange and imports
 "1991 reforms trusted mkts; now RBI should trust exporters and importers")
Industry urges Centre to allow depreciation benefit on imported machinery
Industry bodies have sought depreciation benefits on imported machinery under the MOOWR scheme and eligibility for RoDTEP, saying the current framework raises costs for manufacturers
 "Industry urges Centre to allow depreciation benefit on imported machinery")
Downstream aluminium bodies seek lower import duty on primary aluminium
Industry associations say the current duty structure has enabled import-parity pricing by domestic producers, raising input costs and squeezing the profitability of downstream MSMEs.
 "Downstream aluminium bodies seek lower import duty on primary aluminium")
Boosting manufacturing: Lower import barriers will increase exports
While the decision on duty exemption must be welcomed, the end date underlines India's inherent reluctance in liberalising imports
Centre waives Customs duty on charger parts and battery machinery
Duty exemptions on display assembly and wireless charging components, along with expanded relief for lithium-ion cell machinery, aim to boost domestic manufacturing and value addition
 "Centre waives Customs duty on charger parts and battery machinery")
Govt waives basic customs duty on key electronics manufacturing components
Exemption on inputs used to make display assemblies, lithium-ion cells and inductor coil modules is to boost domestic manufacturing under PLI scheme and will remain in force till March 31, 2029
 "Govt waives basic customs duty on key electronics manufacturing components")
Customs duty exemption on key petrochemical imports extended till July 15
The extension, prompted by supply-chain disruptions arising from the West Asia conflict, will continue to provide relief to industries dependent on critical petrochemical imports
 "Customs duty exemption on key petrochemical imports extended till July 15")
Gold imports slump after duty increase, May volumes at 25-30 tonnes
Monthly gold imports have declined to 25-30 tonnes from 70-80 tonnes, while recycling of old jewellery has increased following the recent hike in import duties
 "Gold imports slump after duty increase, May volumes at 25-30 tonnes")
Govt weighs extending zero-duty import on 40 products beyond June 30
Officials said associated revenue consideration will have to be considered while deciding on whether the import duty exemption would be extended
 "Govt weighs extending zero-duty import on 40 products beyond June 30")
Govt offers retrospective tax relief for nuclear power equipment imports
The exemption covers specified goods imported for nuclear power generation under designated customs tariff categories
 "Govt offers retrospective tax relief for nuclear power equipment imports")
Govt exempts import duty on cotton for five months till October 30
The Centre has exempted cotton imports from customs duty and AIDC till October 31, aiming to improve domestic availability and lower raw material costs for textile manufacturers
 "Govt exempts import duty on cotton for five months till October 30")
Indian banks resume gold, silver imports after month-long halt over 3% levy
The resumption is expected to boost the country's gold imports, widen the trade deficit and put more pressure on the rupee, which is among Asia's worst-performing currencies this year
 "Indian banks resume gold, silver imports after month-long halt over 3% levy")
Customs duty cut fails to lift plastic sector as input costs remain high
Industry says duty exemption on petrochemical imports has had limited impact as raw material prices stay elevated, demand weakens, and MSMEs face mounting stress
 "Customs duty cut fails to lift plastic sector as input costs remain high")
Duty concessions to SEZ for DTA clearances likely to find few takers
Modest duty cuts and complex conditions may limit SEZ units' appetite for concessional DTA clearances despite the government's intent to boost capacity use
 "Duty concessions to SEZ for DTA clearances likely to find few takers")
Petchem import duty waiver to cost govt ₹1,800 crore in 3 months
The exemption on a wide range of critical petrochemical products till June 30, 2026, is a temporary and targeted relief to shield domestic manufacturers from disruptions caused by the Iran war
Medtech, pharma welcome duty relief, seek GST cuts on key inputs
Industry welcomes customs duty exemption on petrochemicals but urges GST relief on inputs and faster refunds to ease cost pressures amid West Asia disruptions
 "Medtech, pharma welcome duty relief, seek GST cuts on key inputs")
Customs seeks ₹23.52 cr from Voltas over alleged import misclassification
As per the order, there was 'mis-classification of certain imported goods pertaining to the period from 14th June, 2019 to 21st July, 2022'
 "Customs seeks ₹23.52 cr from Voltas over alleged import misclassification")
Businesses can pay customs duty via UPI, cards on ICEGATE portal: CBIC
The CBIC in a circular said ICEGATE e-Payment platform has enabled 'Payment Aggregator' as an authorised mode to facilitate customs duty payment
 "Businesses can pay customs duty via UPI, cards on ICEGATE portal: CBIC")