Tag: Overhaul
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Government Plans Major Overhaul of Customs System Ahead of Budget
Union Finance Minister Nirmala Sitharaman has announced that several major changes will soon be made to the customs system. This will be the government’s next biggest reform. Its purpose is to simplify rules so that businesses and traders don’t face difficulties. Over the past two years, duty rates have been gradually reduced and now there…
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Finance Minister Announces Overhaul of Customs Tariffs
The Budget of 2026 will bring in more reforms, especially those pertaining to customs rates, announced Union Finance Minister, Nirmala Sitharaman, on Saturday. The simplification of customs will be comprehensive and entail customs duty rate rationalisation so that there is greater transparency, she said. “We need a complete overhaul of customs… we need to have…