Customs Duty News
The BJP government has repaired and reinvigorated the Indian economy, with Prime Minister Narendra Modi taking the lead in combining the best of both — welfarism and unrelenting reforms
Sitharaman announced a hike in customs duty on mobile phone parts and mobile phone charger components to 2.5 percent from nil while customs duty on gold and silver has been reduced to 7.5 percent from 12.5 percent
All India Gem and Jewellery Domestic Council chief Ashish Pethe said the EMI facility should be extended to their industry and to increase the cash purchase limit to Rs 1 lakh from Rs 10,000
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.
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
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
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.
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.
Taxes on telecom similar to non-essential items like liquor, cigarette: Vodafone Idea CEO Balesh Sharma
The telecom sector is being taxed like non-essential items such as liquor and cigarette, instead of being treated as critical infrastructure, according to Vodafone Idea
Pulwama terror attack: Pakistan has no official information about India withdrawing MFN status, says official
India on Friday announced the withdrawal of the MFN status for Pakistan, following the deadly terror attack on CRPF personnel in Pulwama in Jammu and Kashmir, and hiked the customs duty by 200 per cent on goods originating from Pakistan with immediate effect on Saturday.
Budget Speech 2019 Highlights: Income tax relief for common man, assured cash for farmers in FM's 'roadmap for development'
As Interim Finance Minister Piyush Goyal presents he Prime Minister Narendra Modi-led government's sixth and final budget before the Lok Sabha polls, here are the highlights of his speech.
Budget 2019: Expect no big surprises, taxes may stay where they are as GST has put a block on most indirect taxes
By dragging the Budget announcement one month earlier to February, technically taking a call on the revised budgeted numbers makes less sense as while 10 months would have passed, information will be available for 9 months.
Karnataka CM H D Kumaraswamy seeks Narendra Modi's intervention on iron ore import, increase in basic customs duty on mineral
The "very low" import duty of 2.5 percent encourages steel players to go for import rather than utilising the local ore, H D Kumaraswamy said
CAD may narrow to 2.6% of GDP in FY19 on falling crude; direct tax collections likely to be higher: SBI report
Total receipts for the six months period is Rs 7.09 lakh crore (39 percent of BE) and the total expenditure is estimated at Rs 13.04 lakh crore (53.4 percent of BE).
Govt expected to postpone deadline for imposition of higher import duties on 29 US products by 45 days
The government, for the third time, is expected to postpone the deadline for the imposition of higher customs duties on US products, including almond, walnut and pulses