New Delhi: Union Finance Minister Nirmala Sitharaman has once again laid out customs duties and import tariffs changes for the upcoming fiscal year. These changes make some items costlier and others cheaper as the relevant tariff rates increase or decrease.
Imported life saving drugs and medicines used in the treatment of cancer, rare and other severe chronic diseases, along with imported premium cars and motorcycles, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2025-26.
However, certain items like interactive flat panel (touch screen) displays imported as fully built units and certain knitted fabrics will become costlier due to increase in basic customs duties.
The following is a list of items set to become cheaper and costlier.
Cheaper:
- Imported cars priced over USD 40,000 or engine capacity of more than 3,000 cc
- Imported motorcycles as completely built (CBU) unit with engine capacity not exceeding 1600cc
- Motorcycles with engine capacity not exceeding 1600cc imported in semi-knocked down (SKD) form
- Motorcycles with engine capacity not exceeding 1600cc imported in completely knocked down form
- Imported motorcycles with engine capacity of 1600cc and above in CBU form
- Motorcycles with engine capacity of 1600cc and above in SKD form
- Motorcycles with engine capacity of 1600cc and above in CKD form
- Imported vehicles for transport of 10 or more persons
- Parts of electronic toys
- Synthetic flavouring essences and mixtures, used in food and drink industries
- Articles of Jewellery, goldsmiths’ and silversmiths’ ware
- Ethernet switches Carrier grade
Costlier
- Smart meter
- Solar Cells
- Imported footwear
- Imported Candles and tapers
- Imported Yachts and other vessels
- PVC Flex Films, PVC Flex Sheets, PVC Flex Banner
- Certain imported knitted fabrics
- Interactive Flat Panel Displays which are imported as completely built units.
