Thu Dec 25 06:02:45 UTC 2025: Okay, here’s a news article summarizing and rewriting the provided text:
News Article:
India Eyes Customs Duty Overhaul After Major Tax Reforms in 2025
New Delhi – Following a sweeping overhaul of the Indian tax system in 2025, the government is now focusing on customs duty rationalisation and procedural simplification in the upcoming budget. The significant tax reforms introduced last year included sharp reductions in Goods and Services Tax (GST) rates across various sectors and a substantial increase in the income tax exemption limit, aimed at boosting consumer spending and stimulating economic growth.
With the initial phase of tax restructuring successfully implemented, attention is shifting towards streamlining customs procedures to further improve the ease of doing business in India. Industry experts anticipate measures in the budget to reduce complexities, eliminate redundancies, and reduce duty to promote a level playing field to domestic producers. The government aims to make the India market more competitive and attractive for both domestic and foreign investment. Specific details are expected to be unveiled during the budget presentation.
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