Current Affairs · Union Budget - Customs Reforms
The Union Budget 2026-27 introduced several enhancements to Customs processes to improve the Ease of Doing Business. In this context, which of the following statements is/are correct? 1. The duty deferral period for Tier 2 and Tier 3 Authorised Economic Operators (AEOs) and eligible manufacturer-importers is proposed to be increased from 15 days to 30 days. 2. The validity period of advance rulings that are binding on Customs is proposed to be extended from the present 3 years to 5 years. 3. By the end of the current financial year, cargo clearance approvals from various Government agencies are expected to be processed through a single and interconnected digital window. Select the correct option:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 11 and 2 only
- 22 and 3 only
- 31 and 3 only
- 41, 2, and 3✓
Correct answer
1, 2, and 3
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