By Archisha Yadav | February 01, 2025
The government has fully exempted 36 essential medicines from Basic Customs Duty, reducing their prices for patients.
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Twelve critical minerals, including cobalt powder, lithium-ion battery waste, lead, and zinc, are now exempt from customs duty, lowering import costs.
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A total of 35 components for EV battery production and 28 for mobile phone batteries are now exempt from Basic Customs Duty, reducing manufacturing costs.
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The exemption on Basic Customs Duty for ships and their parts has been extended for another 10 years, making shipbuilding more cost-effective.
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The customs duty on Carrier Grade Ethernet switches has been reduced from 20% to 10%, bringing it in line with non-Carrier Grade switches.
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Customs duty on open-cell display panels has been reduced to 5%, which will help lower the production costs of TVs and monitors.
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Customs duty on fish paste and frozen fish has been reduced from 30% to 5%, while fish hydrolysates will now attract only 5% duty.
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Wet blue leather is now fully exempt from customs duty, reducing costs for the leather and footwear industries.
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The Basic Customs Duty on flat panel displays has been increased from 10% to 20%, making TVs and mobile screens more expensive.
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The exemption on the Social Welfare Surcharge has been removed from 82 tariff lines, leading to higher costs for affected products.
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