The Union Budget 2026–27, presented on 01 February 2026, announces several Indirect Tax reforms focused on simplifying customs duties, supporting domestic manufacturing, promoting exports, and improving ease of living. <br /> <br />Key Indirect Tax Announcements in Budget 2026 <br />Tariff Simplification & Exemptions <br />Removal of long-standing customs duty exemptions on items now manufactured in India <br />Incorporation of effective duty rates directly into tariff schedules for clarity <br /> <br />Export Promotion <br />Higher duty-free import limits for inputs used in seafood exports <br />Duty-free imports extended to shoe uppers for exporters <br />Extended export timelines for leather, textile garments and footwear <br /> <br />Energy & Strategic Sectors <br />Customs duty exemption for capital goods used in battery energy storage systems <br />Duty-free import of critical mineral processing equipment <br />Extension of duty exemptions for nuclear power projects till 2035 <br /> <br />Civil & Defence Aviation <br />Exemption of basic customs duty on aircraft components and raw materials <br />Special support for defence MRO and manufacturing units <br /> <br />Ease of Living <br />Customs duty on personal-use imports reduced from 20% to 10% <br />17 life-saving drugs exempted from basic customs duty <br />7 additional rare diseases added for duty-free personal medical imports <br /> <br />Trade Facilitation <br />Faster customs clearance through trust-based systems <br />Expansion of AEO benefits, AI-based scanning and digital single-window clearance <br /> <br />These measures aim to reduce trade friction, lower costs, support Make in India, and enhance India’s role in global supply chains. <br /> <br /> <br />#Budget2026 #UnionBudget2026 #IndirectTax #CustomsDuty #Excise #BudgetHighlights #MakeInIndia #Exports #IndianEconomy #BreakingNews<br /><br />Also Read<br /><br />Why India’s Next Growth Phase Depends On NBFCs, Not Just Banks Post Budget 2026? :: https://www.goodreturns.in/personal-finance/why-india-s-next-growth-phase-depends-on-nbfcs-not-just-banks-post-budget-2026-1487265.html?ref=DMDesc<br /><br />How The Budget 2026 Has Impacted The Middle Class Taxpayers In 5 Ways? :: https://www.goodreturns.in/personal-finance/how-the-budget-2026-has-impacted-the-middle-class-taxpayers-in-5-ways-1487017.html?ref=DMDesc<br /><br />Union Budget Agriculture Reforms: How PM Dhan-Dhanya Krishi Yojana Will Benefit 1.7 Crore Farmers :: https://www.goodreturns.in/news/union-budget-agriculture-reforms-how-pm-dhan-dhanya-krishi-yojana-will-benefit-1-7-crore-farmers-1486913.html?ref=DMDesc<br /><br /><br /><br />~HT.178~
