India: India to Levy New Surcharge on Imported Goods

On February 1, 2018, Finance Minister Arun Jaitley presented the Government of India’s (GOI) annual budget for Indian Fiscal Year (IFY) 2018/19. The GOI’s Union Budget of 2018 abolished the Education Cess and the Secondary and Higher Education Cess. The budget introduced a Social Welfare Surcharge of 10 percent of the basic customs duty on imported goods, including food and processed food products. 

India: India to Levy New Surcharge on Imported Goods