May 20, 2026

Customs

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Budget 2026 Expectations Live Updates: Income tax relief, customs changes, exports push in focus for FM Sitharaman’s ninth Budget

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Dhruv Gadh, Partner- Transport, Logistics and Infrastructure PwC India lists the top expectations for maritime sector: This budget presents an opportunity to transform the maritime sector by focusing on three key areas: 1. Capital allocation for Maritime Amrit Kaal VisionAlign investments to support the long-term Maritime Amrit Kaal Vision by scaling up the Sagarmala Programme….

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‘Make in India’ boost: Customs duty on some electronics increased to 20%; govt aims to boost locally manufactured goods

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The Centre on Wednesday revised customs duties on display-related products to support domestic electronics manufacturing and fix the existing duty structure. The Union finance ministry raised the Basic Customs Duty (BCD) on flat panel displays to 20%, while reducing the duty on open cells and key components to 5%. The changes are aimed towards strengthening…

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Budget 2026: Industry seeks GST-style simplification in customs duty; urges speeding up and simplification of clearences

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Budget 2026: As the Union Budget for the financial year 2026-2027 draws closer, Indian companies are expecting a GST like transformation in the customs duty framework to promote trade facilitation and simplify dispute resolution. Key demands include a rationalisation of customs duty rates, a reduction in the number of duty slabs, and the introduction of…

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Budget 2026: MAIT seeks customs duty cuts on key electronic components; push to boost domestic manufacturing

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The IT industry body MAIT has urged the government to reduce basic customs duty on key electronic components and enhance tax incentives in the upcoming Union Budget to strengthen domestic manufacturing and improve global competitiveness.In its pre-Budget recommendations submitted to the finance and IT ministries, the Manufacturers’ Association for Information Technology (MAIT) proposed cutting basic…

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Trade policy rethink: GTRI calls for tariff overhaul; simpler customs to cut costs and lift exports

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India needs a comprehensive overhaul of its import tariff structure and customs administration to reduce trade costs, improve manufacturing competitiveness and revive export growth, think tank Global Trade Research Initiative (GTRI) said on Saturday, PTI reported. In a report titled A Blueprint for Modernizing India’s Import Tariffs and Customs Regime, GTRI recommended a gradual move…

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Budget 2026: Industry flags customs litigation, compliance bottlenecks as key pain points

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A key industry demand relates to strengthening the Customs Authority for Advance Rulings (CAAR). (AI image) As the Centre readies the Union Budget 2026-27, industry and tax experts have flagged mounting customs litigation, uneven trade facilitation and gaps in digitalisation as areas needing urgent policy attention. In its pre-Budget memorandum, FICCI has outlined a series…

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China’s customs agents on entry of Nvidia’s H200 chips: Wording from the officials is so severe that it is basically …

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Chinese customs authorities have reportedly instructed agents that Nvidia’s high-end H200 artificial intelligence chips are currently prohibited from entering the country, as the silicon trade war escalates between Washington and Beijing. Citing sources briefed on the matter, news agency Reuters reported that the directive was paired with high-level meetings earlier this week.“The wording from the…

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Budget 2026 expectations: Deloitte calls for customs duty overhaul; seeks higher allocations for exports

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Rationalising import duties and stepping up budgetary allocations in the upcoming Union Budget could give a strong push to domestic manufacturing and exports, Deloitte India said on Tuesday.The consulting firm said the Budget for 2026-27, which is scheduled to be presented on February 1, should build on the government’s ongoing efforts to strengthen manufacturing at…

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Budget 2026: Rs 1.52 lakh crore locked in Customs disputes; Govt may consider amnesty, duty slab rationalisation

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Representative file photo (Budget 2025) With more than Rs 1.52 lakh crore of customs duty locked in litigation, the government may consider introducing an amnesty scheme in the Union Budget for 2026–27 to bring closure to long-pending disputes and provide certainty to businesses, Price Waterhouse & Co LLP said on Thursday, PTI reported.The government could…

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Budget 2026: Customs duty slabs set for big revamp; tariff structure to be simplified

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As part of a wider overhaul, the government is also looking to revisit and recalibrate the duty structure governing transactions between special economic zones. (AI image) Budget 2026: The Narendra Modi government is looking to revamp the customs duty slabs and tariff structure in the Union Budget 2026. FM Nirmala Sitharaman is expected to present…

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