Budget 2026: Personal import duty slashed to 10%
Business
Budget 2026 just dropped some big changes: customs duties are being slashed to help Indian manufacturers and exporters.
Now, Indian vessels can bring in fish duty-free from SEZs or high seas, and there are tax breaks on equipment for minerals, microwave oven parts, and aviation repair materials.
MAT rate drops to 14%
Shopping from abroad just got easier—personal import duty is down from 20% to 10%.
The MAT (Minimum Alternate Tax) rate also drops to 14%, making life simpler for businesses.
Plus, a new digital Customs Integrated System will speed up cargo clearance.
All these moves mean lower costs for industries like electronics and aviation—and possibly better prices and more jobs at home.