Customs duty reforms aim to boost domestic manufacturing, deepen ...

Customs reforms boost manufacturing, value addition, exports & simplify taxation. Exemptions for minerals, drugs, key sectors. Duty cuts for mobiles, chargers & renewable energy.

News Budget

July 23, 2024

Customs duty reforms aim to boost domestic manufacturing, deepen local value addition, enhance export competitiveness, and simplify taxation while prioritizing public interest. Exemptions granted on 25 critical minerals, three cancer drugs, and inputs for seafood, leather, and textile sectors. Duty reduced on mobile phones, chargers, and components to 15%. Renewable energy sector supported through duty exemptions on capital goods for solar cell manufacturing. Duty rationalized for gold, silver, platinum, ferro nickel, and blister copper to enhance domestic value addition. Comprehensive review of customs duty structure planned for rationalization and simplification.

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Customs duty reforms aim to boost domestic manufacturing, deepen ...

Customs reforms boost manufacturing, value addition, exports & simplify taxation. Exemptions for minerals, drugs, key sectors. Duty cuts for mobiles, chargers & renewable energy.

News Budget

July 23, 2024

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