There is no change in the peak rate of basic customs duty of 10% for non-agricultural products. Presenting the Union Budget in Lok Sabha today, the Finance Minister announced that there will be no change in the normal rate of excise duty of 12% and the normal rate of service tax of 12%.

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DSM/KKP/MM/18
(Release ID :92747)

Tax rate stability maintained as budget leaves customs, excise and service tax rates unchanged across sectors. Budget announcement confirms no change in central indirect tax peak rates: the peak rate of basic customs duty for non agricultural products remains unchanged, and the normal rates of excise duty and service tax remain unchanged, communicating stability in headline tariff and indirect tax parameters in the presented budget.