Quick Summary
With a staggering Rs 1.52 lakh crore of customs duty currently locked in long-running legal disputes, industry stakeholders are urging the government to consider a comprehensive customs amnesty scheme in the Union Budget 2026-27 to bring finality to legacy cases and restore certainty for businesses.
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FAQ :
Industry stakeholders are urging the government to consider a comprehensive customs amnesty scheme and rate rationalisation for customs duties in the Union Budget 2026-27.
As of March 2024, a staggering Rs 1.52 lakh crore of customs duty is locked in long-running legal disputes.
Rate rationalisation is needed to simplify the current structure of eight Basic Customs Duty slabs and to address the inverted duty structure caused by Free Trade Agreements, where imported finished goods are cheaper than locally sourced raw materials.
FTAs have lowered import duties on finished goods while duties on raw materials remain relatively high, creating an inverted duty structure that puts domestic manufacturers at a competitive disadvantage.
Trade facilitation measures, such as faster customs clearances, reduced dwell times at ports, and improved digitisation of processes, are also key expectations for Budget 2026-27.
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