Basic Custom Duty rates cut from 21 to 13 except on textiles & agriculture

Finance Minister Nirmala Sitharaman has proposed to reduce the number of Basic Custom Duty (BCD) rates on goods, other than textiles and agriculture, from 21 to 13. "As a result, there will be minor changes in the basic custom duties, cesses and surcharges on some items including toys, bicycles, automobiles," Sitharaman said.