Customs Duty

Budget 2020: Maruti Suzuki questions customs duty hike on imported electric vehicles; says localisation not possible in short term

Maruti Suzuki India on Wednesday questioned the rationale behind the government's move to hike customs duty on imported electric vehicles, saying it isn't easy to localise in a short period

Nirmala Sitharaman exhorts industry to shun hesitation, partner with govt to push growth; says willing to take more steps

alking about the measures taken to help the industry, the minister listed some of them like corporate tax rate cut and removal of Minimum Alternate Tax (MAT) and Dividend Distribution Tax (DDT).

Budget 2020: Indirect tax proposals may take Make in India theme forward; customs electronic duty credit ledger a milestone

The GST rule is sought to be amended to trigger imposition of penalties against persons ‘causing and benefitting’ fraudulent input tax credit.

Budget 2020-21: Finance Ministry seeks suggestions for rationalising income tax, other duties

In perhaps the first instance, the finance ministry has kicked off the exercise to formulate the next budget by seeking suggestions on changes in direct and indirect taxes from industry and trade associations

Budget 2020: Govt considering hike in customs duty on toys, certain paper, footwear products

The government may increase customs duty on several products like paper, footwear, rubber items and toys in the forthcoming Budget with a view to promote 'Make in India' and boost manufacturing growth, sources said

Three held at Delhi’s IGI Airport for trying to smuggle micro SD cards worth crores of rupees; probe by Customs officials underway

Three people have been apprehended by CISF personnel at Delhi's Indira Gandhi International Airport (IGIA) for allegedly trying to smuggle in about a lakh micro-SD cards worth a few crores without paying customs duty, officials said on Wednesday

Gold demand zooms in June quarter, but likely to lose sheen in 2019 on rising prices, hike in customs duty

Local gold prices hit a record Rs 35,960 ($519) per 10 grams on Tuesday, having jumped more than 10% over the past month, rising in line with international prices on tensions in the Middle East.

Budget 2019 'status-quoist', does not seek radical reforms for faster growth: P Chidambaram

Chidambaram said, if there are no structural reforms, it appears that the government wants to carry on with existing policies and reforms

Petrol and Diesel Budget 2019: Cess on petrol, diesel hiked by Re 1 per litre; customs duty on gold increased

Sitharaman proposed to increase special additional excise duty and road and infrastructure cess each one by 1 rupee a litre on petrol and diesel.

Union Budget 2019: Customs duty, a major source of govt revenue; helps keep imports under check, protect domestic industries

Customs duty in India comes under the Customs Act 1962 and Customs Tariff Act of 1975.