- Government announced measures to simplify Customs and central excise, support domestic manufacturing, and boost export competitiveness.
- Tariff rate on all dutiable goods imported for personal use will be reduced from 20% to 10%.
- Customs processes will be streamlined for minimal intervention, faster movement of goods, and greater trade certainty.
- Trusted importers will face fewer cargo verifications, and electronic sealing will enable direct export clearance from factories.
- Customs warehousing will shift to a warehouse operator-centric system with self-declarations and electronic tracking, and a single digital window for cargo clearance will be implemented by year-end.
Source: timesofindia.indiatimes.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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