India: Customs duty on the imports of certain raw materials reduced as part of the 2023-2024 budget

Announcement

01 Feb 2023

The Indian government has announced customs duty reduction on the imports of certain raw materials for manufacturing finished goods.

Source

Number of interventions

2 certainly harmful

0 likely harmful

2 liberalising

List of interventions

Implementation date

02 Feb 2023

Revocation date:

No revocation date

Updated: 01 Feb 2023

Tax or social insurance relief In force

On 1 February 2023, the Indian Ministry of Finance through Notification No. 06/2023-Customs provided a tax advantage on the manufacture of mobile phone camera modules. The advantage was provided by re...

Implementation date

02 Feb 2023

Revocation date:

No revocation date

Updated: 01 Feb 2023

Import tariff In force

On 1 February 2023, the Indian Ministry of Finance through Notification No. 06/2023-Customs reduced the customs duty on the imports of camera lens and its inputs/parts (listed under any HS chapter) fo...

Implementation date

02 Feb 2023

Revocation date:

31 Mar 2024

Updated: 01 Feb 2023

Tax or social insurance relief

On 1 February 2023, the Indian Ministry of Finance through Notification No. 06/2023-Customs provided a temporary tax advantage on the manufacture of certain finished goods. The advantage was provided ...

Implementation date

02 Feb 2023

Revocation date:

31 Mar 2024

Updated: 01 Feb 2023

Import tariff

On 1 February 2023, the Indian Ministry of Finance through Notification No. 06/2023-Customs temporarily reduced the customs duty on the imports of certain raw materials. The amendment is effective unt...