Govt cuts customs tariff slabs, scraps excise duty on 360 items
Summary
The government has reduced customs tariff slabs from 11 to seven and scrapped excise duty on 360 items as part of the fiscal year 2083/84 budget reforms.
Key Points
- The government has reduced customs tariff slabs from 11 to seven.
- Customs duties on industrial raw materials have been lowered by one slab.
- Customs rates on 273 items have been reduced.
- Excise duty on 360 items has been scrapped and infrastructure tax integrated into a green tax system.
