https://www.taxtmi.com/news?id=32351 The Budget proposes customs tariff rationalization by removing multiple industrial tariff rates and limiting cess or surcharge to one, exempts additional life saving medicines and their bulk drugs from Basic Customs Duty while adding concessional categories, expands BCD exemptions for critical minerals and capital goods for EV and mobile battery manufacturing, adjusts rates to correct duty inversion on components and textiles, and introduces trade facilitation measures including a time limit for provisional assessments, a voluntary post clearance declaration without penalty, and extended end use periods with quarterly reporting. en-us Sat, 01 Feb 2025 14:16:57 +0530 Sat, 01 Feb 2025 14:16:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=32351 The Budget proposes customs tariff rationalization by removing multiple industrial tariff rates and limiting cess or surcharge to one, exempts additional life saving medicines and their bulk drugs from Basic Customs Duty while adding concessional categories, expands BCD exemptions for critical minerals and capital goods for EV and mobile battery manufacturing, adjusts rates to correct duty inversion on components and textiles, and introduces trade facilitation measures including a time limit for provisional assessments, a voluntary post clearance declaration without penalty, and extended end use periods with quarterly reporting. News - Sat, 01 Feb 2025 14:16:57 +0530 https://www.taxtmi.com/news?id=32351