🚀 Major Rejig of Customs Duty and GST on the Horizon! 🌐 Exciting news from the Indian tax landscape! The government is taking significant steps to address the inverted duty structure that has been distorting trade and impacting our manufacturing competitiveness.

🔍 𝗞𝗲𝘆 𝗛𝗶𝗴𝗵𝗹𝗶𝗴𝗵𝘁𝘀: 𝗜𝗻𝘃𝗲𝗿𝘁𝗲𝗱 𝗗𝘂𝘁𝘆 𝗦𝘁𝗿𝘂𝗰𝘁𝘂𝗿𝗲: This occurs when inputs and raw materials attract higher tax than finished products, making imports cheaper and disincentivizing local manufacturing.

𝗔𝗳𝗳𝗲𝗰𝘁𝗲𝗱 𝗣𝗿𝗼𝗱𝘂𝗰𝘁𝘀: Washing machines, air purifiers, solar glass, paper, furniture, apparel, and jewellery. Many of these are key to the Make in India initiative.

𝗚𝗼𝘃𝗲𝗿𝗻𝗺𝗲𝗻𝘁'𝘀 𝗜𝗻𝗶𝘁𝗶𝗮𝘁𝗶𝘃𝗲: The process to correct these distortions has begun, aiming to boost our manufacturing sector and enhance export capabilities.

💡 𝗪𝗵𝘆 𝗧𝗵𝗶𝘀 𝗠𝗮𝘁𝘁𝗲𝗿𝘀: 𝗟𝗼𝗰𝗮𝗹 𝗠𝗮𝗻𝘂𝗳𝗮𝗰𝘁𝘂𝗿𝗶𝗻𝗴 𝗕𝗼𝗼𝘀𝘁: Correcting the duty structure will make local manufacturing more competitive.

𝗧𝗿𝗮𝗱𝗲 𝗕𝗮𝗹𝗮𝗻𝗰𝗲 𝗜𝗺𝗽𝗿𝗼𝘃𝗲𝗺𝗲𝗻𝘁: It will make exports more attractive by leveling the playing field. 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝗰 𝗚𝗿𝗼𝘄𝘁𝗵: These changes align with the Make in India initiative, promoting industrial growth and job creation.

As we await further details, this initiative marks a pivotal move towards fostering a more robust and competitive manufacturing sector in India. Stay tuned for more updates! 📈🇮🇳 #MakeInIndia #TaxReforms #Manufacturing #InvertedDutyStructure