International Trade and Customs

Major Overhaul in the India Customs Exemption Notifications

Author: Reena Khair, Senior Partner & Head Indirect Tax

The Finance Minister of India in the 2021-22 Union Budget had announced that the Government proposes to review 400 exemption notifications. The exemption on more than 150 items, currently exempted under Notifications Nos. 14/2006-Customs dated 01.03.2006, 26/2011-Customs dated 01.03.2011 and 50/2017-Customs dated 30.06.2017 could be axed.

The Telecom, Information Technology, Wind Power, Textiles and Pharmaceuticals are a few of the affected sectors.

Read the full report. 

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