- The central government is set to present its thirteenth Union Budget on 23 July 2024
- Anticipation for policies aimed at economic growth, fiscal consolidation, inflation check, and promotion of investments
- Expectations on Customs legislation and incentivization front
- Correction of inverted duty structure and reduction in customs duty rates on raw materials
- Continuation of customs duty exemptions for items like lithium-ion cells and solar tempered glass
- Streamlining of valuation norms for related party transactions
- Revival of MOOWR scheme with suggestions for improvement like allowing depreciation for computing customs duty on capital goods
Source: nexdigm.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
