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'FTAs a factor behind lower customs revenue estimate’
Financial Express Lucknow
|February 03, 2026
Central Board of Indirect Taxes and Customs Chairman Vivek Chaturvedi spoke to Kuldeep Singh on the proposals related to indirect taxes in Budget FY27.
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Excerpts.The share of Goods and Services Tax (GST) in the overall Budget receipts seems to drop (from 18% in FY26 to 15% for FY27)...
The GST rate rationalisation is a factor behind slow growth. We have seena growth of 3.5% in H1 FY27 over the H1 FY26 in GST. The projected growth for the second half is around 9.4% over the H2 FY26. There is tax buoyancy of 0.94X on 10% nominal GDP. The January collection data released on February 1 show positive trends in terms of absolute growth and taxable supplies, providing optimism despite rationalisation effects.
What is the rationale behind Budget proposals regarding basic customs duty?
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