Ahead of the Union Budget on February 1, the government is considering changes to an “inverted duty structure” affecting 13 to 14 products. In some cases, taxes on inputs are higher than on finished goods, inflating costs for manufacturers and weakening competitiveness. The Commerce Ministry has flagged the issue to the Finance Ministry, urging reform to support local manufacturing.
Budget 2022 proposes a legal tweak expanding who can be treated as a “proper officer,” enabling CBIC customs officials or senior commissioners to perform assigned functions. The move is designed to invalidate a Supreme Court order, allowing DRI and Customs Preventive Audit officers to demand customs duty under the amended framework.
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India is increasing petrochemical feedstock supplies to pharmaceutical manufacturers to protect essential medicine availability amid West Asia supply-chain disruptions. Refiners are now pushing key inputs such as propylene, ammonia and methanol, while customs duties have been reduced to lower landed costs. As a result, domestic drug prices are holding steady.
India is considering lowering customs duties on induction cooktop components and reducing GST on the appliances themselves. The move is intended to encourage local manufacturing, improve supply conditions, and make electric cooking more affordable. To tackle lingering demand-supply gaps and price volatility, the government is also easing quality control orders selectively to protect raw material availability.
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