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Budget 2025 - Key changes announced in Customs duties

Date 01 Feb 2025
Written By
2025 Budget: Customs Duty Exemptions for Medicines, Shipbuilding Parts, and EV Components; Duties Rise for Flat Panel Displays
The 2025 budget introduces significant changes in customs duties. Essential medicines and certain critical minerals, including cobalt and lithium-ion battery waste, are now fully exempt from Basic Customs Duty (BCD). Shipbuilding parts enjoy a 10-year BCD exemption extension. The duty on Carrier Grade Ethernet switches is halved to 10%. Additional goods for EV and mobile battery manufacturing gain BCD exemptions. Custom duties on open-cell displays and various fish products are reduced, while wet blue leather is fully exempt. Conversely, duties on flat panel displays double to 20%, and exemptions on 82 tariff lines under the social welfare surcharge are removed. - (AI Summary)

Key changes announced in Customs duties and exemptions - Budget 25 

What's Getting Cheaper?

Life-Saving Drugs - 36 essential medicines will be exempt fully from Basic Customs Duty (BCD).

Critical Minerals - 12 more critical minerals, including cobalt powder, lithium-ion battery waste, lead, and zinc, to be exempt from Basic Customs Duty.

Shipbuilding - Basic Customs Duty exemption for ships and their parts extended for 10 more years.

Ethernet Switches - Basic custom duty on Carrier Grade Ethernet switches reduced from 20% to 10%, matching them with non-Carrier Grade switches.

EV & Mobile Battery Manufacturing - 35 additional goods for EV battery production and 28 for mobile phone battery manufacturing added to the BCD exemption list.

Open-Cell Displays - Reduction of custom duty to 5%.

Fish & Seafood - Customs duty on fish paste reduced from 30% to 5%. Tax levied on Frozen fish at 5%, down from 30%. Fish hydrolysates duties cut from 15% to 5%.

Leather - Wet blue leather is now fully exempt from duties.

What's Getting Costlier?

Flat Panel Displays - Basic custom duty increased from 10% to 20%, impacting TVs and mobile phones.

Social Welfare Surcharge - Removal of exemption on 82 tariff lines at presently under cess.

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