The Union Finance Minister Nirmala Sitharaman presented the full – budget 2024 today before the parliament at 11 am. To enhance the competitiveness of exports in the leather and textile sectors, the FM proposed to reduce Basic Customs Duty ( BCD ) on real down-filling material from duck or goose.
Basic Customs Duty (BCD) is a tax levied on goods imported into a country. The BCD on real down-filling material from ducks or geese can impact various sectors, including the textile and apparel industry, where this material is commonly used for items such as jackets, bedding, and sleeping bags.
The Exemption has been extended to Wet white leather, Crust and finished leather for the manufacture of textile or leather garments, leather /synthetic footwear or other leather products for export.
The Basic Customs Duty (BCD) on real down-filling material from ducks or geese affects import costs, pricing, and the overall market dynamics of down-filled products. Understanding the current BCD rates, their impact on the supply chain, and strategies to mitigate increased costs is crucial for businesses importing and manufacturing down-filled products. Regular monitoring of trade policies and tariff schedules is essential to stay informed about potential changes in BCD rates and their implications.
The Exemption further has been extended to certain additional accessories and embellishments for the manufacture of textile or , leather/synthetic footwear or other leather products for export.
Changes in BCD rates can affect the availability of down-filled products in the market, as importers may reduce the volume of imports in response to higher duties.
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