BASIC CUSTOM DUTIES REDUCED ON CERTAIN ITEMS TO ENCOURAGE INVESTMENT AND DOMESTIC PRODUCTION
To boost domestic manufacture and to address the issue of inverted duties, the General budget 2014-15 has reduced basic customs duty (BCD) on certain items. To encourage new investment and capacity addition in the chemicals and petrochemicals sector, basic customs duty has been reduced. This was announced by the Union Finance Minister Shri Arun Jaitley …