Tag: Customs Duty

Scripting India's manufacturing revival: Rationalisation of GST, strengthening of IBC & NCLT on agenda to improve ease of business
Posted in Economy

Scripting India’s manufacturing revival: Rationalisation of GST, strengthening of IBC & NCLT on agenda to improve ease of business

Local manufacturing has got a boost from government initiatives like the production-linked incentive (PLI) schemes, government and industry officials said and suggested additional measures like…

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New Delhi on Friday imposed a 20% basic customs duty on crude palm oil, crude soyoil and crude sunflower oil from Sept. 14, the notification said. (Representational image/Unsplash)
Posted in Business

India hikes edible oil import tax on palm, soyabean, and sunflower oil to support farmers

India has raised the basic import tax on crude and refined edible oils by 20 percentage points, the government said on Friday, as the world’s…

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India facing acute shortage of natural rubber, prices soar
Posted in Economy

India facing acute shortage of natural rubber, prices soar

India is experiencing a significant shortage of natural rubber (NR), with domestic production lagging behind demand by approximately 5.5 lakh tonne, ToI reported. Despite an…

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india sri lank FTA: India seeks duty concession on cars, commercial vehicles, machinery in FTA with Sri Lanka
Posted in Economy

india sri lank FTA: India seeks duty concession on cars, commercial vehicles, machinery in FTA with Sri Lanka

India is seeking customs duty concession on a number of goods including cars, commercial vehicles and machinery from Sri Lanka under a comprehensive free trade…

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Finance minister Nirmala Sitharaman speaks in the Lok Sabha during the Monsoon Session of Parliament, in New Delhi. (SansadTV)
Posted in Business

Union Budget: Duty on chemicals up from 10% to 150%, research labs say ‘thoughtless action’

Jul 31, 2024 07:55 AM IST Union Budget: Funding agencies have already informed scientists that their budgets are fixed with no room to hike allocations….

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India's duty cut halts concessionary silver, platinum imports from UAE
Posted in Economy

India’s duty cut halts concessionary silver, platinum imports from UAE

India‘s silver and platinum imports from the UAE, previously benefiting from concessionary duties under a trade agreement, have ceased as New Delhi’s move to reduce…

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Capital gains tax rejig aims at simpler regime, says revenue secretary Sanjay Malhotra
Posted in Economy

Capital gains tax rejig aims at simpler regime, says revenue secretary Sanjay Malhotra

Removal of indexation and introduction of lower capital gains tax rate is aimed at simplification, said revenue secretary Sanjay Malhotra. In an interview to Anuradha…

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Customs duty on gold: Customs duty structure review to focus on reducing number of rates: Revenue Secretary
Posted in Economy

Customs duty on gold: Customs duty structure review to focus on reducing number of rates: Revenue Secretary

The government is looking at bringing down the number of customs duty levies to five from about a dozen presently, as part of the duty…

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Budget 2024: Cut in customs duty, credit guarantee scheme for MSMEs to help boost mfg, exports: Experts
Posted in Economy

Budget 2024: Cut in customs duty, credit guarantee scheme for MSMEs to help boost mfg, exports: Experts

New Delhi: The Budget announcements such as cut in customs duties on range of goods, credit guarantee scheme for MSMEs and setting up of e-commerce…

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Seven wonders from Union Budget that will cheer the Indian consumers
Posted in Economy

Seven wonders from Union Budget that will cheer the Indian consumers

Union Budget: The recent budget announced by finance minister Nirmala Sitharaman brings relief to consumers by reducing customs duties on various imported goods, making luxury…

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