Peak customs duty cut unlikely
The Finance Minister P Chidambaram has been lowering the peak customs duty for the last three years, but this year's rise in rupee may stop him from lowering it further from the current level of 10 per cent. No surprise that even the industry chambers like CII has asked not to lower it further. But not everyone agrees with this. Tax experts say the rationalisation of customs tariff is a key signal of tax reforms for the outside world.
