India to Simplify Customs Duty Structure with Fewer Slabs in Upcoming Budget
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India to Simplify Customs Duty Structure with Fewer Slabs in Upcoming Budget

India is planning to simplify its customs duty structure by reducing the number of slabs to five or six from the current eight. This reform, expected to be announced in the upcoming Union Budget, aims to streamline the tariff system, reduce disputes and litigation, and better align import duties with national industrial and trade priorities. The move also supports the government's push for a paperless customs system and comes amid ongoing trade pact negotiations.

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