https://www.taxtmi.com/article/detailed?id=15794 Customs tariff simplification moves many exemptions into the tariff, creates new tariff lines, extends customs law beyond territorial waters for fishing, fixes advance rulings at five years, relaxes warehouse transfer permissions, introduces monthly deferred duty payments and a new importer class, reduces personal import duty to 10%, and provides targeted duty relief for critical minerals, EVs, semiconductors and other strategic sectors while allowing some exemptions to lapse to balance revenue. en-us Sun, 01 Feb 2026 17:45:47 +0530 Mon, 02 Feb 2026 15:25:29 +0530 TaxTMI RSS Generator https://www.taxtmi.com/article/detailed?id=15794 Customs tariff simplification moves many exemptions into the tariff, creates new tariff lines, extends customs law beyond territorial waters for fishing, fixes advance rulings at five years, relaxes warehouse transfer permissions, introduces monthly deferred duty payments and a new importer class, reduces personal import duty to 10%, and provides targeted duty relief for critical minerals, EVs, semiconductors and other strategic sectors while allowing some exemptions to lapse to balance revenue. Articles Budget - Tax Proposals Sun, 01 Feb 2026 17:45:47 +0530 https://www.taxtmi.com/article/detailed?id=15794