Budget 2020: Govt to review customs duty exemptions on products by Sept

The government on Saturday said by September it will comprehensively review customs duty exemptions being given to certain products to weigh their relevance.

Finance Minister Nirmala Sitharaman while presenting the Budget for 2020-21 said exemptions from customs duty have been given in public interest from time to time.

However, a number of these have outlived their utility or have become outdated, she said adding on review, certain such exemptions are being withdrawn.

"Remaining customs duty exemptions shall be comprehensively reviewed by September 2020 for taking a view on their relevance. I propose to crowd source suggestions for such reviews," she said.

The minister said suggestions would also be invited on customs laws and procedures for aligning those with the needs of changing times and ease of doing business.

Further, she said the government is strengthening provisions relating to safeguard duties which are applied when surge in imports causes serious injury to domestic industry.

"The provisions for checking dumping of goods and imports of subsidized goods are also being strengthened for ensuring a level playing field for domestic industry," Sitharaman said.

She added that these changes are in line with the international best practices. 



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