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No Custom Duty, GST on Defence Imports

The Indian Government has exempted customs duty and Goods and Services Tax (GST) on imports of specified defence goods not being manufactured indigenously until 2024. With such exemption applicable wef 01 Oct 2019 around Rs 25000 Crores will be saved due to waiver of customs duty while GST exemptions will augment the defence budget by Rs 35000 Crores over the next five years.

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