Import Duty

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Import Duty - Total results - 63
Govt doubles import duty on over 50 textile products to promote domestic manufacturing
Business

Govt doubles import duty on over 50 textile products to promote domestic manufacturing

The imported products which have become expensive include woven fabrics, dresses, trousers, suits and baby garments

India may withdraw import duty hike decision on US products if tariff issues resolved
Business

India may withdraw import duty hike decision on US products if tariff issues resolved

India on Thursday indicated that it may withdraw the notification imposing additional duties on 29 US products, to be effective from 4 August, if both the sides are able to sort out the differences over tariffs

India needs to lower trade barriers and cut tariffs, says US diplomat Katherine Hadda
Business

India needs to lower trade barriers and cut tariffs, says US diplomat Katherine Hadda

Stressing the need for India to lower trade barriers and cut tariffs, US Consul General in Hyderabad Katherine Hadda has said there are high tariffs in India with over 13 percent as compared to America's average tariff rate of 3.4 percent.

In retaliation to Donald Trump's tariffs war, India to hike import duty on certain US products from 4 August onwards
Business

In retaliation to Donald Trump's tariffs war, India to hike import duty on certain US products from 4 August onwards

The import duty on chickpeas and Bengal gram has been increased to 60 percent, while that on lentils has been hiked to 30 percent.

Weak rupee will further curb palm oil imports, says trade body; duty hike in March and tighter credit hurt industry
Business

Weak rupee will further curb palm oil imports, says trade body; duty hike in March and tighter credit hurt industry

The rupee has fallen about 4 percent since the start of April due to a broadly firmer US dollar and rising oil prices.

Relief for solar producers as government scraps import duty, but still some 'uncertainty' about process remains
Business

Relief for solar producers as government scraps import duty, but still some 'uncertainty' about process remains

Several consignments of solar modules, worth more than $150 million in total, were held up for more than three months at ports after customs’ officials in August demanded that some of them be classified as “electric motors and generators”, carrying a 7.5% import duty.

BMW hikes prices by 3-5.5% from April due to import duty rise in spare parts
Business

BMW hikes prices by 3-5.5% from April due to import duty rise in spare parts

BMW models range from a low Rs 30 lakh to over Rs 2 crore in the country due to high import duty, which runs up to 130 percent

US import duty hikes on steel and aluminium may trigger retaliatory action, hurt global growth: S&P
Business

US import duty hikes on steel and aluminium may trigger retaliatory action, hurt global growth: S&P

US President Donald Trump's decision to hike duties on steel and aluminium could result in retaliatory action from EU and China, triggering a trade war and hurting global economic growth, S&P Global Ratings said

Budget 2018: India's renewable progress slips; GST-induced losses, import duty on solar modules threaten 2022 target
Business

Budget 2018: India's renewable progress slips; GST-induced losses, import duty on solar modules threaten 2022 target

During 2017-18, 4.8 GW renewables capacity was added till 30 November, 2017, against a target of over 14 GW. India will now have to add nearly 3 GW every month — the amount it did over four months previously — to meet its target by the end of March 2018.

Budget 2018: Secondary steel makers demand removal of import duty on scrap
Business

Budget 2018: Secondary steel makers demand removal of import duty on scrap

Secondary steel industry body All India Induction Furnaces Association (AIIFA) has urged the government to remove 2.5 percent import duty on steel melting scrap in the upcoming budget.

AISIA opposes Centre's safeguard duty on imported solar panels and cells, fears negative impact on SEZ-based firms
Business

AISIA opposes Centre's safeguard duty on imported solar panels and cells, fears negative impact on SEZ-based firms

Strongly opposing the proposed blanket safeguard duty on imported solar panels and cells, the All-India Solar Industries Association on Monday said this levy will badly impact manufacturers operating from the special economic zones.

Tesla in discussion with Government of India for relaxed import restrictions
News & Analysis

Tesla in discussion with Government of India for relaxed import restrictions

Tesla CEO and founder Elon Musk has revealed that the company is in discussion with the Government of India for Tesla launch in the country.

Tesla in talks with Indian govt to reduce import duty: CEO Elon Musk
Business

Tesla in talks with Indian govt to reduce import duty: CEO Elon Musk

Musk has been showing increasing interest in the country of late and had earlier this month tweeted about India's commitment to sell only electric cars by 2030

Gold imports record three-fold jump to $3.85 bn; Akshaya Tritiya boosts demand
Business

Gold imports record three-fold jump to $3.85 bn; Akshaya Tritiya boosts demand

India is the world's second biggest gold consumer after China. The imports mainly take care of demand by the jewellery industry.

Govt slaps 10% import duty on wheat, tur dal to protect farmers' interest
Business

Govt slaps 10% import duty on wheat, tur dal to protect farmers' interest

On 8 December, the government had reduced customs duty on wheat to zero from 10 percent to boost domestic availability and check retail prices. There has been nil duty on tur dal.

Govt may announce incentives for gems and jewellery in Budget
Business

Govt may announce incentives for gems and jewellery in Budget

The industry has demanded cut in the import duty from the current 10 percent to 2 percent.

Budget 2017: World Gold Council demands lowering of gold taxes from current 13%
Business

Budget 2017: World Gold Council demands lowering of gold taxes from current 13%

At present, gold attracts Customs duty of 10 percent, excise duty of 1 percent and 1.5 percent value added tax (VAT), taking total taxes on the yellow metal to 13 percent.

Rajya Sabha: Govt slashes import duties on wheat, angry opposition dubs it anti-farmer
Politics

Rajya Sabha: Govt slashes import duties on wheat, angry opposition dubs it anti-farmer

Angry Opposition protests over government's move to slash import duty on wheat to zero allegedly to benefit multinational firms forced adjournment of the proceedings of Rajya Sabha till afternoon today.