Import duties raised in India

50 rupee banknote currency

November 5, 2018: The Indian government raised import duties on a range of items to curb widening current account deficit (CAD) and stabilize the rupee.

The first change relates to an increase of import duties on 19 tariff lines that accounted for an import bill of Rs 86,000 crore in FY18 by 2.5-10 percentage points, effective September 27th.

The second change impacts the import duty on HTS 85176100 & 85176990 with an increase to 20%, which went into effect October 12th.

Please find the below notices and tariff list:

 

Should you have any questions or concerns with this new regulation, please reach out to BDP's Corporate Compliance Team

Source: BDP International

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