In the Union Budget 2025-26, Finance Minister Nirmala Sitharaman has announced significant changes in the customs duty structure, impacting various imported goods.
Among the notable revisions, life-saving drugs (LSDs), rare medicines for cancer and other life-altering illnesses, as well as premium imported cars and motorcycles, are set to become more affordable.
The move is expected to ease the financial burden on individuals who rely on these expensive imported products for their medical and lifestyle needs.
However, the budget also introduces hikes in duties on certain items, such as interactive flat panel displays and some knitted fabrics, making them costlier for consumers.
Imported life-saving drugs (LSDs), along with rare drugs used to treat cancer and other life-altering illnesses, as well as imported premium cars and bikes, are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duties in the Union Budget 2025-26.
Certain items, including interactive flat panel (touchscreen) displays imported as fully built units and certain knitted fabrics, will become costlier due to an increase in basic customs duties.
The following list of items is set to become cheaper and costlier.
The list of cheaper items includes imported cars priced over USD 40,000 or with an engine capacity of more than 3,000 cc, imported motorcycles as completely built (CBU) units with engine capacity not exceeding 1,600 cc, and motorcycles with engine capacity not exceeding 1,600 cc imported in semi-knocked down (SKD) form.
Motorcycles with an engine capacity of not exceeding 1,600 cc imported in completely knocked down (CKD) form, imported motorcycles with an engine capacity of 1,600 cc and above in CBU form, motorcycles with an engine capacity of 1,600 cc and above in SKD form, and motorcycles with an engine capacity of 1,600 cc and above in CKD form are also included.
Additionally, imported vehicles for the transport of 10 or more persons, parts of electronic toys, synthetic flavouring essences and mixtures used in the food and drink industries, articles of jewellery, goldsmiths’ and silversmiths’ ware, ethernet switches, and carrier-grade equipment are on the list of items set to become cheaper.
The list of items set to become costlier includes smart meters, solar cells, imported footwear, imported candles and tapers, imported yachts and other vessels, PVC flex films, PVC flex sheets, PVC flex banners, certain imported knitted fabrics, and interactive flat panel displays that are imported as completely built units.
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