The Indian government has waived customs duty on critical petrochemical products until June 30 to ensure supply stability and provide relief to consumers amid disruptions caused by the crisis in West Asia.
Petrochemicals sector seeks cut in excise duty on Naphtha to 8%, increase customs duty on polymers, chemicals & fibre intermediates to 10% and to remove customs duty on naphtha & propane.
Excise duty cut to boost Polymers sector.
There is nothing specific announced for Chemicals Industry, however, reduction in customs duty
Mobile phones and TV sets manufactured in India would become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in Basic Customs Duty (BCD) on import of their components but smokers would have to pay more as the government has increased taxes.
