Budget: Govt could cut customs duty on raw materials to boost manufacturing

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Budget: Govt could cut customs duty on raw materials to boost manufacturing - Business Standard

Quick Summary:

The government could reduce customs duty on inputs used in manufacturing medical equipment, electronic goods and footwear industries in the forthcoming Budget to boost local manufacturing, according to tax experts.

Deloitte India Partner, Indirect Tax, Harpreet Singh said key demands from the Customs side from the 2025-26 Budget, to be tabled in Parliament on February 1, would be rate rationalisation, simplification of the regime, and litigation and dispute management.

"In the lines of the phased manufacturing plan, we expect some duty cuts in raw materials in electronics, home appliances, healthcare products, and pharmaceuticals.