Vuélvete ilimitado con Magzter GOLD
Obtenga acceso ilimitado a más de 9000 revistas, periódicos e historias Premium por solo
Amnesty scheme on anvil to ease Customs cases backlog
Business Standard
|December 31, 2025
Gold, wilful default, narcotics and smuggling cases to be kept out
The government is likely to announce a Customs amnesty scheme in the Union Budget for 2025-26 to clear a large backlog of legacy disputed cases, according to people familiar with the matter.
The proposed scheme is expected to target long-pending Customs disputes stuck at various stages, including tribunals and courts.
Cases involving gold, wilful default, narcotics and smuggling will be excluded, they said.
Under the proposal, eligible taxpayers would be able to settle disputes by paying only the principal Customs duty amount, with the government considering a waiver of interest and penalties, said one of the sources. The move is expected to unlock capital for businesses while enabling faster recovery of dues.
An email sent to the Finance Ministry seeking comment remained unanswered until publication.
Esta historia es de la edición December 31, 2025 de Business Standard.
Suscríbete a Magzter GOLD para acceder a miles de historias premium seleccionadas y a más de 9000 revistas y periódicos.
¿Ya eres suscriptor? Iniciar sesión
MÁS HISTORIAS DE Business Standard
Business Standard
Beef import quota breach: China to impose 55% tariff
China will set quotas for beef imports from top suppliers including Brazil and Argentina, and impose tariffs if they are exceeded, in a bid to support the country’s domestic industry.
1 min
January 01, 2026
Business Standard
RBI red-flags bank-NBFC interlink risks
Banks acquiring 80% assets through a limited number of NBFCs
2 mins
January 01, 2026
Business Standard
Northern borders 'stable yet sensitive': Defence ministry
The situation along India’s northern borders “remains stable yet sensitive”, the Ministry of Defence said in a media statement on Wednesday.
1 min
January 01, 2026
Business Standard
Climate analysts mull over El Nino graph in 2026
Year-wise monsoon performance
2 mins
January 01, 2026
Business Standard
Indian pharma sees sharp drop in adverse USFDA findings
The US Food and Drug Administration (USFDA) recorded a significant decline in serious regulatory findings at Indian drug manufacturing facilities between January and December 2025.
2 mins
January 01, 2026
Business Standard
Growing reliance on external funding increases NBFCs' susceptibility to exchange-rate volatility
The Reserve Bank of India (RBI) has cautioned that increasing reliance of non-banking financial companies (NBFC) on external funding has made them susceptible to greater exchange rate volatility.
1 mins
January 01, 2026
Business Standard
2026 to bring data, policy, tax changes
The year 2026 will bring in various new reforms, deadlines, policy and taxation changes ranging from the revision of base year for calculating GDP, IP to European Union’s (EU) Carbon Border Adjustment Mechanism (CBAM) coming into force and the new labour codes, tax reforms getting fully operational.
2 mins
January 01, 2026
Business Standard
Bangladesh in flux
Begum Zia’s death ends old political dualities
2 mins
January 01, 2026
Business Standard
China's reunification with Taiwan 'unstoppable': Xi
Says country's GDP growth rate expected to be 5% after an 'extraordinary' year
2 mins
January 01, 2026
Business Standard
Centre proposes stricter cough syrup sales rules
Unlicensed village pharmacists to face over-the-counter sale curbs
2 mins
January 01, 2026
Listen
Translate
Change font size