Customs duty rate rationalisation/changes vide Budget 2022 proposals
03 February 2022
The Central Government vide Budget 2022 has rationalised the customs duty rate across various products by withdrawing certain concessions/exemptions, upward/downward revision of rates, omission of few entries being in the nature of technical change, graded import duty structure for products covered under PMP etc. Also, the proposals include few complementary amendments with minor changes across chapters in the Tariff, all aimed at bringing greater clarity to the HSN and to be in line with HS-2022 published by WCO.
We at BDO in India have summarised the key customs duty rate changes. Hope you find it useful.