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      Question

      As per Union Budget 2026-27 announcements related to

      deep-sea fisheries, what is the new tax treatment for fish caught by Indian fishing vessels in India's EEZ or High Seas?
      A Such fish will attract 5% customs duty when landed at Indian ports Correct Answer Incorrect Answer
      B Such fish will be entirely exempt from GST at the point of sale Correct Answer Incorrect Answer
      C Such fish shall be free of import duty, and fish landed at foreign ports will be treated as exports Correct Answer Incorrect Answer
      D Such fish will attract a concessional import duty of 2.5% to discourage tax evasion Correct Answer Incorrect Answer
      E Such fish will be mandatorily processed domestically before any export Correct Answer Incorrect Answer

      Solution

      Under Union Budget 2026-27, fish caught by Indian fishing vessels in the EEZ or High Seas shall be free of import duty, and landing of such fish at a foreign port will be treated as export of goods. This incentivises deep-sea fishing operations and maximises export earnings. Online MPEDA Catch Certificates and EIC Health Certificates through ReALCraft ensure full traceability and global compliance

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