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India lifted some import and export duties on leather and leather products

India lifted some import and export duties on leather and leather products

Indian Finance Minister Nirmala Sitharaman has presented the budget for the fiscal year 2022-23. Capital goods such as leather, footwear and textiles will be exempted from duty in the budget to help exporters of leather garments, leather footwear and other products.

With regard to leather, the customs duty of 11% duty has been removed for export only and will remain in place imports of wet-blue, crust and/finished leather; there is no duty on imports of wet-salted, pickled and other pre-tanned materials. Additionally, on the other hand, the export duty on hides, skins and leather has been reduced from 40% to 30%.

|Source: Online/KSU

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