Tag: Customs Duty
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…
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…
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…
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…
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….
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…
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…
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…
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…
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…