Customs Duty Exemption on Petrochemicals to Reduce Revenue by ₹1,800 Crore
The government's customs duty exemption on petrochemicals until June 30, 2026, aims to mitigate supply chain disruptions and reduce costs. This measure offers temporary relief to key industries while potentially impacting government revenue by ₹1,800 crore.
💡 Key Fact
The government has provided customs duty exemption on critical petrochemical products until June 30, 2026, leading to an estimated revenue reduction of ₹1,800 crore.
Background
The exemption aims to ensure the availability of essential petrochemical inputs for domestic industries amidst the ongoing conflict in West Asia and disruptions in global supply chains.
Source: A2Z Taxcorp LLP
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