NEW DELHI: The government is likely to take a call on extending import duty exemption on about 40 products beyond June 30, after analyzing the evolving situation in West Asia and associated revenue implications, an official said on Thursday.
To safeguard the domestic industry from supply chain disruptions, the government in a “temporary and targeted relief” had exempted import of critical petrochemical products from customs duty effective April 2.
Customs duty was cut to ‘nil’ across 40 different products, including Anhydrous Ammonia, Toluene, Styrene, Vinyl chloride monomer, and others.
