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flag India's 2026-27 budget cuts import duties on key medicines, lowers personal import taxes, and raises taxes on financial trades and luxury goods.

flag The Union Budget 2026-27 introduces targeted tax cuts, reducing basic customs duty on 17 cancer and critical illness drugs and expanding duty-free imports for medicines used in seven rare diseases. flag Personal import duties on goods are lowered from 20% to 10%, while TCS on overseas tourism and education remittances drops to 2%. flag Duty exemptions extend to solar glass ingredients, civilian aircraft parts, microwave ovens, and nuclear power project components. flag Conversely, Securities Transaction Tax on futures and options rises to 0.05% and 0.15%, and penalties for tax misreporting increase to 100% of the tax due. flag Some luxury goods and tobacco products are expected to become more expensive.

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