Centre slashes customs duty on certain inputs for textile and leather industries
- The Union Budget presented on Tuesday has announcements related to the reduction of customs duty on some items in the textile and leather sectors.
Highlights:
- The import duty on Methylene Diphenyl Diisocyanate (MDI) will be reduced to 5% from 7.5%.
- “To enhance the competitiveness of exports in the leather and textile sectors, FM reduced Basic Custom Duty on real down-filling material from duck or goose.
- also made additions to the list of exempted goods for manufacture of leather and textile garments, footwear and other leather articles for export,”
- The duty on wet white, crust, and finished leather for manufacture of garments, footwear, and other leather products for exports will be brought down to nil from 10%.
- It will also be nil on some of the additional accessories and embellishments for manufacture of textile and leather garments, leather and synthetic footwear, or other leather products for exports.
- The duty on real down-filling material from duck or goose for use in the manufacture of garments for exports will be reduced to 10% from 30%.
Prelims Takeaway:
- Silk-Samagra
- SITP