Bulletin Updates

Basic customs duty exemption, decrease in some chemicals in budget 2023–24 – 2 Feb 2023

Feb 02, 2023

The fundamental custom duties, cesses, and surcharges on a few goods—including toys, bicycles, vehicles, and naphtha—have seen minor changes in the current Budget 2023–24. With the exception of textiles and agriculture, it plans to reduce the majority of basic customs tax rates on items. Denatured ethyl alcohol is considered to be exempt from basic customs charges in the budget since it is used in the chemical industry.

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