Union Budget 2026-27 customs proposals: personal-use import tariff halved and courier export value cap removed

The Union Budget 2026-27, presented on 1 February 2026, proposed reducing the tariff rate on all dutiable goods imported for personal use from 20% to 10%, exempting basic customs duty on 17 drugs or medicines, and adding 7 more rare diseases for duty-free personal import of drugs, medicines and Food for Special Medical Purposes. It proposed complete removal of the existing Rs 10 lakh per consignment value cap on courier exports, aimed at small businesses, artisans and startups selling through e-commerce. Fish caught by an Indian fishing vessel in the EEZ or on the high seas is made duty free, with landing at a foreign port treated as export of goods.

Budget proposals as announced. The government summary does not state commencement dates for each measure, so effectiveDate is null; the Finance Act, 2026 (Act No. 4 of 2026, 30 March 2026) and the connected customs notifications carry the operative dates. The courier export cap removal is the item most likely to matter to a small exporter.

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