Import Duty

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Import Duty - Total results - 63
Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival
Business

Parliamentary panel suggests lower GST rate, uniform road tax for auto sector until its revival

A parliamentary panel had examined the Demands for Grants 2020-21 of Department of Heavy Industry (DHI) and tabled its report in Parliament

Budget 2020: Cigarettes, imported products, furniture, footwear to become costlier; EVs, newsprint, sport goods to be cheaper
Business

Budget 2020: Cigarettes, imported products, furniture, footwear to become costlier; EVs, newsprint, sport goods to be cheaper

A large number of items including cigarettes, chewing tobacco along with imported products, like edible oils, fans, table, footwear, electric vehicles, tableware, kitchenware, toys and furniture are set to become more expensive due to hike in taxes proposed in the Union Budget for 2020-21

Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry
Business

Budget 2020: Jewellery sector seeks reduction in gold customs duty to 6%, polished diamonds to 2.5% to revive industry

Saying that liquidity is a major area of concern, All India Gem and Jewellery Domestic Council (GJC) Chairman Anantha Padmanaban said the government should take steps to ensure that banks lend to jewellers.

Gold imports up 35.5% to Rs 80,000 cr during April-June quarter; trade deficit rises marginally to $45.96 bn
Business

Gold imports up 35.5% to Rs 80,000 cr during April-June quarter; trade deficit rises marginally to $45.96 bn

To mitigate the negative impact of gold imports on trade deficit and CAD, the government increased the import duty on gold to 12.5% from 10% in this year's Budget.

India's gold demand likely to soften in third-quarter on record high local price, rural distress: WGC
Business

India's gold demand likely to soften in third-quarter on record high local price, rural distress: WGC

Indian gold futures hit a record high of Rs 35,409 ($511.54) per 10 grams in July. Local prices have risen 10 percent so far in 2019.

Japan drags India to WTO over import duties on certain electronic goods
Business

Japan drags India to WTO over import duties on certain electronic goods

Japan has dragged India to the World Trade Organisation (WTO) over the import duties imposed on certain electronic goods, according to the global trade body

India may again extend retaliatory tariff deadline on 29 US products by 30 days
Business

India may again extend retaliatory tariff deadline on 29 US products by 30 days

India is expected to again extend the deadline by a month to impose retaliatory import duties on 29 US products, including almond, walnut and pulses, an official said

Government again extends retaliatory import tariff deadline on 29 US products till 16 May
Business

Government again extends retaliatory import tariff deadline on 29 US products till 16 May

The government has again extended its deadline to impose retaliatory import duties on 29 US products, including almond, walnut and pulses, till 16 May

Govt hikes wheat import duty to 40% from 30% to support farmers; local prices had fallen over 11%
Business

Govt hikes wheat import duty to 40% from 30% to support farmers; local prices had fallen over 11%

The hike in duty is likely to make imports of wheat unviable for flour mills even after recent declines in global prices, potentially dragging further on global grain markets.

Donald Trump says trade deal will be struck with China only if it is good for United States
World

Donald Trump says trade deal will be struck with China only if it is good for United States

Trump imposed tariff hikes of up to 25 percent on $250 billion of Chinese goods. In response, China, the world's second largest economy after the US, imposed tit-for-tat tariffs on $110 billion of American goods.

US China trade disputes: Trump, Xi Jinping appear close to deal to roll back tariffs on $200 bn worth of Chinese goods
Business

US China trade disputes: Trump, Xi Jinping appear close to deal to roll back tariffs on $200 bn worth of Chinese goods

The United States and China appear close to a deal that would roll back U.S. tariffs on at least $200 billion worth of Chinese goods, as Beijing makes pledges on structural economic changes and eliminates retaliatory tariffs on U.S. goods, a source briefed on negotiations said on Sunda

Integrated gold policy likely soon; govt to promote growth of yellow metal industry, jewellery exports, says Suresh Prabhu
Business

Integrated gold policy likely soon; govt to promote growth of yellow metal industry, jewellery exports, says Suresh Prabhu

In February, Finance Minister Arun Jaitley announced formulation of a comprehensive gold policy to develop gold as an asset class.

Govt's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO panel
Business

Govt's safeguard duty move on steel goods inconsistent with certain global trade norms: WTO panel

As India and Japan failed to resolve the issue in the bilateral consultation process, the WTO had set up the dispute resolution panel earlier this year.

Rupee zooms 55 paise to close at 73.57 against US dollar; marks biggest jump in over three weeks
Business

Rupee zooms 55 paise to close at 73.57 against US dollar; marks biggest jump in over three weeks

Rising for the third straight day, the rupee strengthened by 55 paise to settle at 73.57 against the US dollar on Friday, marking its biggest gain in over three weeks as global crude prices eased and domestic indices staged a smart rebound

Govt hikes import duty on select communication items to up to 20% to check widening CAD
Business

Govt hikes import duty on select communication items to up to 20% to check widening CAD

The CAD widened to 2.4 percent of the GDP in the first quarter of 2018-19.

Airline stocks hit 52-week low, fall up to 5% on hike in import duty of jet fuel
Business

Airline stocks hit 52-week low, fall up to 5% on hike in import duty of jet fuel

The government on Wednesday raised import duties on 19 items, including jet fuel as it looks to check the widening current account deficit resulting from high crude oil prices and the rupee dipping to a historic low.

Govt eyes higher import duties on precious stones, steel and electronics, but will spare gold: Official
Business

Govt eyes higher import duties on precious stones, steel and electronics, but will spare gold: Official

The main reason for the planned increase in duties is to curb an inflow of items that normally move between China and the United States

Govt considers raising import duty on some steel products to 15% from current 5-12.5% to support rupee
Business

Govt considers raising import duty on some steel products to 15% from current 5-12.5% to support rupee

In the three months to end-June, India became a net steel importer for the first time in two years, with foreign supplies reaching 2.1 million tonnes, up 15 percent from a year earlier, according to official data.

Government doubles import duty on 328 textile items to 20% to boost domestic manufacturing
Business

Government doubles import duty on 328 textile items to 20% to boost domestic manufacturing

The government had last month doubled import duty on over 50 textile products -- including jackets, suits and carpets -- to 20 percent, a move that is aimed at promoting domestic manufacturing.

Finance ministry to notify import duty hike on 300 textile products to boost domestic manufacturing
Business

Finance ministry to notify import duty hike on 300 textile products to boost domestic manufacturing

The duties could be enhanced to 20 percent on products like certain fabrics, garments and man-made fibres. Currently, the duty ranges between 5-10 percent.