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India's average customs duty cut to 10.66% from 11.65%
Hindustan Times Ranchi
|February 04, 2025
India has significantly reduced its average customs duty rate to 10.66% from 11.65% and is now moving towards the levels prevalent in the Southeast Asian countries, a senior government official said on Monday.
NEW DELHI:
CBIC (Central Board of Indirect Taxes & Customs) chairman Sanjay Kumar Agarwal said the rate rationalisation exercise was carried out with the objective of making the tariff structure simple, ensuring competitiveness of Indian industry and simplifying the tax regime.
"Now the average customs rate in India has come down from 11.65% to 10.66% and we are now moving towards the average rate in ASEAN countries," he said here at an interaction with industry representatives.
Dit verhaal komt uit de February 04, 2025-editie van Hindustan Times Ranchi.
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