Union Budget 2023: Customs duty rates reduced from 21% to 13%

Union Budget 2023: Customs duty rates reduced from 21% to 13%

The government proposed customs duty exemptions on the import of capital goods and machinery required for lithium-ion batteries

FPJ Web DeskUpdated: Wednesday, February 01, 2023, 01:27 PM IST
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Union Budget 2023: Customs duty rates reduced from 21% to 13% |

Finance Minister Nirmala Sitharaman presented her fifth straight budget today. This was also last the full budget of Modi 2.0 govt before the next parliamentary elections in 2024.

Customs duty

The government proposed customs duty exemptions on the import of capital goods and machinery required for lithium-ion batteries.

The government also proposes to increase the customs duty on silver to align with the duty on gold and platinum.

Reduce customs duty rates from 21% to 13%.

Reduce customs duty on camera lenses, electric chimney lithium batteries, and TV panels.

Here is the list of item that have become costlier and cheaper after the budget:

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