New Delhi | RBN News
In a move aimed at simplifying the customs duty framework and easing the cost burden on consumers, Union Finance Minister Nirmala Sitharaman announced a significant reduction in import tariffs for goods brought into the country for personal use.
Presenting the Union Budget 2026–27 in Parliament, the Finance Minister said the government intends to rationalise the existing customs duty structure. As part of this initiative, the tariff rate on all dutiable goods imported for personal consumption is proposed to be reduced from 20 per cent to 10 per cent.
The proposed reduction is expected to benefit individuals importing goods for private use by lowering overall costs and reducing complexity in customs assessments. Officials said the move also aligns with the government’s broader objective of making the tax and duty regime more transparent and user-friendly.
Trade experts believe that a uniform and lower tariff rate could help minimise disputes at ports of entry and improve compliance, while providing direct relief to consumers.
The announcement forms part of a wider set of customs and tax reforms outlined in the Union Budget 2026–27, aimed at balancing revenue considerations with ease of living and procedural simplification.
