Topic
customs-duty
Trade Tariff Rationalisation Set to Continue, More Steps Likely in FY28 Budget: FM
Finance Minister Nirmala Sitharaman said tariff rationalisation will continue, with more steps likely in the FY28 Budget, according to the Economic Times. India's simple average tariff stood at 15.8% in 2025, per WTO data. She also proposed customs duty exemptions for energy security and aviation manufacturing, and concessional-duty sales by SEZ units in the domestic tariff area.
Trade India waives customs duty, IGST on imported animals under UK trade pact from July 15
India has announced a customs duty and IGST waiver on imported animals used in shows and public functions, effective July 15, under its trade pact with the UK. The notification from CBIC requires re-export within six months and a bank guarantee of 110% of duty, with exceptions for government and diplomatic missions.
Trade India Grants Retrospective Customs Duty Relief on Nuclear Power Equipment Import
India's Finance Ministry issued a notification granting retrospective customs duty relief on imports of select nuclear power generation equipment. The relief covers goods imported from April 2019 to January 2026, ensuring importers face no retrospective duty claims.