GSTnews item18 December 2022
Centre to levy import duties on non-essential items as exports fall: Report
News Update
Centre to levy import duties on non-essential items as exports fall: Report
The Centre may hike the duties on imports of "non-essential items" ahead of growing concerns around a slowdown in exports and a widening trade deficit. Several ministries are in the process of shortlisting the commodities for duty hikes, as reported by the Indian Express (IE). The list will reportedly be restricted to only the commodities that have "enough manufacturing capacity" in the country. "We are looking at non-essential imports for which there is enough manufacturing capacity. It is to identify non-essential items, where there is sufficient production capacity and allow for higher import substitution," an official told IE.
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