EXCLUSIVE
Mulling extension of nil import duty on petchem pdts beyond Jun 30 - Source
This story was originally published at 13:45 IST on 18 June 2026
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By Sagar Sen
NEW DELHI – The government may look to extend the customs duty exemption on critical petrochemical products beyond Jun. 30, a senior finance ministry official said. "But the government will also be wary of the revenue implications," the official told Informist.
On Apr. 2, the government allowed full customs duty exemption on critical petrochemical products till June-end due to the West Asia war. The move ensured continued availability of critical petrochemical inputs, the government had said.
The government has set a customs duty collection target of INR 2.71 trillion in 2026-27 (Apr-Mar) compared with INR 2.64 trillion in FY26. Crude oil prices surged due to the war in the Persian Gulf, driven by severe disruption in the movement of critical energy raw material through the Strait of Hormuz.
Customs duty was reduced to nil across 40 different products, including anhydrous ammonia, toluene, styrene, and vinyl chloride monomer. End
US$1 = INR 94.39
Edited by Avishek Dutta
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