Govt to lose ₹1,800 cr due to duty exemption on petrochemicals

The exemption of customs duty on multiple critical petrochemical products until June 30 is expected to cause a revenue loss of ₹1,800 crore to the Indian government, said a CBIC official on Thursday. This exemption measure is targeted relief to help navigate the supply chain disruption due to West Asia war. The exempted petrochemical products include methanol, phenol and polyols.