The government is likely to go for a major overhaul of the basic customs duty on more than 100 items in the Budget for FY26, in order to align the rates with global trade dynamics and correct the inverted duty structure, according to a senior official.
The official told FE that inverted duty correction is likely to be done for information technology hardware items, automobile parts and textiles, among others. "Inputs have been received from the industry regarding this aspect, and we've kept those in mind (while reviewing rates)" the official said. Inverted duty structure is a situation wherein inputs and raw materials attract higher tax than finished products.
Bu hikaye Financial Express Mumbai dergisinin December 03, 2024 sayısından alınmıştır.
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Bu hikaye Financial Express Mumbai dergisinin December 03, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Giriş Yap
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