ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Indirect Taxes

The budget proposals, instead of introducing a 'tariff with only a few exceptions', have actually complicated the tariff structure in customs and excise, and burdened it with even more exemptions. If the customs clearance procedure is to be speeded up, major reforms are needed to reduce the number of rates and to abolish exemptions. Similarly, the excise rate structure, which has seen little improvement in the past 10 years, should see a substantial abolition of exemptions and have fewer duty rates.

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