India waives import duties on 40 petrochemicals until June 30
Procurement teams at manufacturers must land petrochemical consignments by June 30 to secure duty relief
Change
India exempted imports of 40 petrochemical products from customs duty from April 2 through June 30 and waived the Agriculture Infrastructure and Development Cess on ammonium nitrate for the same period.
Why it matters
Procurement, importing and customs-filing operations now face a time-limited eligibility window: listed petrochemical consignments must arrive and clear in India between April 2 and June 30 to qualify for the temporary duty exemptions. Shipments imported after June 30 will be subject to standard customs duties and, for ammonium nitrate, the Agriculture Infrastructure and Development Cess.
Implications
- — Importers, customs brokers, and procurement teams at chemical-using manufacturers must schedule, file and ensure listed petrochemical consignments arrive and clear in India by June 30, 2026 — consignments arriving after that date will be liable for standard customs duty and, for ammonium nitrate, the Agriculture Infrastructure and Development Cess.
- — Finance and treasury teams at importers and manufacturers must update landed-cost and margin models immediately to reflect that the duty and cess exemptions expire on June 30, 2026 — failing to update cost models before finalising supplier invoices will produce inaccurate pricing and margin calculations.
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Source
View on Economic Times