Customs Duty

A long-game Budget: FM pushes capability-building for growth resilience

FM Sitharaman tightens fiscal deficit target at 4.3% of GDP

Budget 2026: Seaplane manufacturing to get boost, aircraft parts duty cut

Centre announces incentives for indigenous seaplane manufacturing, VGF support for operations, and customs duty exemption on aircraft components

Sitharaman announces various customs duty exemptions in 2026 Budget

The exemptions are aimed at simplifying tax rates, supporting domestic manufacturing, boosting exports, and removing old duty exemptions that are no longer needed

Customs duty exemptions extended for lithium-ion cells, critical minerals

Finance Minister Nirmala Sitharaman on Sunday announced an extension of basic customs duty exemption on capital goods used for manufacturing lithium-ion cells for battery storage in the annual budget for the next financial year. In her budget speech, she also proposed to exclude the entire value of biogas while calculating excise duty levy on (biogas) blended CNG (compressed natural gas). "I propose to extend the basic customs duty exemption given to capital goods used for manufacturing lithium-ion cells for batteries. Also, I propose to exempt basic customs duty on import of sodium anti Monet, for use in manufacturing of solar glass," she said. It is proposed to provide basic customs duty exemption to the import of capital goods required for the processing of critical minerals in India. For biogas blended CNG, she said, "I propose to exclude the entire value of biogas while calculating the central excise duty payable on biogas blended CNG." She said that the government will devel

IndiGo moves Delhi HC for ₹900 cr customs refund on repaired engines, parts

IndiGo has asked the Delhi High Court to direct customs authorities to refund over ₹900 crore it paid under protest on aircraft engines and parts re-imported after repairs

Simplification of customs will be next big reform, says FM Sitharaman

Ahead of Budget 2026, Finance Minister Nirmala Sitharaman on Saturday said the simplification of customs would be the next big reform agenda for the government. During the current financial year, the government undertook reforms such as rate rationalisation and simplification of the income tax and Goods and Services Tax (GST) in a bid to boost consumption by providing more cash in the hands of the common man. "We need a complete overhaul of customs... we need to have customs simplified for people to feel that it is not cumbersome to comply... need to make it more transparent," Sitharaman said while speaking at the HT Leadership Summit here. There is a need to bring the virtues of income tax to the customs side in terms of transparency, she said, adding that the proposed reforms will be comprehensive and entail customs duty rate rationalisation. The announcements to this effect can be made in the upcoming Budget, likely to be presented on February 1. "We have brought down customs d

FIMI pushes for 15% aluminium duty, flags import surge, poor-quality scrap

FIMI has urged the Finance Ministry to raise the basic customs duty on aluminium products to 15 per cent, citing rising imports, poor-quality scrap inflows and the pressure

Datanomics: Donald Trump's trade tariffs bring windfall gains for US

US customs revenue surged 153% in FY25 as tariff rates spiked to decade highs, lifting India's import share to a 10-year peak while China's slipped below 10% for the first time since 2015

Finance ministry rules out Customs duty relief for magnet PLI scheme

Finance ministry has ruled out customs duty exemption for REPM-making machinery, saying capital subsidy under the PLI scheme will offset high import costs amid China's export curbs

Dubai man takes Customs dept to court over Rolex: Here's what Delhi HC said

The Customs Department seized the Rolex watch of a Dubai resident, alleging that he had failed to declare it. The High Court, however, called the Customs order an error, but still upheld the fine

Wintrack shuts ops over Chennai Customs bribes; dept denies, MoF steps in

Wintrack Inc has stopped its India operations, citing alleged bribery and harassment by Chennai Customs; officials deny the claims, calling them false and misleading

Datanomics: India Post's move may further hamper its foreign business

India Post halts US services as de-minimis exemption ends, bringing customs duties on all low-value imports

India-UK FTA: Tariff cuts likely to weigh on Customs duty collections

For FY26, the Centre has budgeted Customs revenues to grow only 2.1 per cent to ₹2.4 trillion

US earns well on Trump's tariffs; country's custom revenues cross $100 bn

Increased customs revenue produced a surplus budget for America in June

DRI busts major multi-crore branded luxury furniture import racket

The Directorate of Revenue Intelligence uncovers a multi-crore racket involving undervaluation and misdeclaration of luxury furniture, leading to significant customs duty evasion

Govt aims to clear SVB backlog in two years with bulk entry processing

The revamped framework aims to reduce paperwork and resolve valuation issues without lengthy disputes

CBIC simplifies procedure for temporary import of the air containers

The Central Board of Indirect Taxes and Customs (CBIC) on Friday simplified and harmonised procedure for temporary import of Unit Load Devices (ULDs) or air containers, a move aimed at trade facilitation. With this simplified procedure, ULDs could also be imported temporarily outside the Customs area on execution of a Continuity Bond by the air carriers/air console agents, who take responsibility to export back within the specified time period. A ULD is a special container which is used to load cargo onto an aircraft. In a statement, the finance ministry said as a first step towards streamlining Customs Protocols, and aligning with the international best practices for movement of ULD outside Customs Area, CBIC has stipulated simplified and harmonised procedure for temporary import of ULDs on the lines of procedure already stipulated for marine containers being handled through the seaports since 2005. Further, the CBIC has also decided to waive the transhipment permit fee for all ..

Govt levies 10% duty on masur, offers free import of yellow pea till May 31

The government has imposed a 10 per cent import duty on lentils (mosur) and extended the duty-free import of yellow peas by three months till May 31 this year to enhance domestic availability, according to a finance ministry notification. Through the notification, the government has imposed 5 per cent basic customs duty and 5 per cent Agriculture Infrastructure and Development Cess (AIDC) on lentils with effect from March 8. So far, the import of lentils has been exempt from duty. The government had initially allowed the duty-free import of yellow peas in December 2023 and subsequently extended it thrice till February 28. As per estimates, India's yellow peas import stood at 30 lakh tonnes out of 67 lakh tonnes of overall pulses imported during 2024.

Useful initiatives from CBIC to simplify trade for importers, exporters

The CBIC Customs Manual 2025 explains in simpler words the role of the Customs, various legal provisions and gives the gist of relevant departmental instructions till February 1

NPPA directs pharma firms to update MRP after Budget 2025 duty exemptions

The National Pharmaceutical Pricing Authority directs pharma firms to revise the MRP of medicines following customs duty exemptions in Union Budget 2025, ensuring consumers benefit from lower prices