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News
customs duty
Customs duty News
Budget 2021
01 Feb 2021
Union Budget 2021 proposes Custom duty structure overhaul; check details
The Finance Minister said that there is immense potential in manufacturing heavy capital equipment domestically The rate structure will be comprehensively reviewed in due course She proposed to withdraw exemptions on tunnel boring machine
customs duty
26 Aug 2019
Customs duty on imports of subject goods originating in Malaysia increased
Government seeks that the step will help limit import of Palm Oil from Malaysia, thereby benefiting domestic farmers directly.
Sugar
06 Feb 2018
Govt doubles import duty on sugar to 100%, hikes chana to 40%
Presently, customs duty on sugar is 50% and that on chana is 30%.
Assocham
16 Jan 2018
Assocham seeks 10% import duty on chemical pulp
The industry body has also sought policy measures to facilitate private sector participation in plantation development programmes.
Apple iPhone price hike
18 Dec 2017
Apple hikes iPhone prices in India post-customs duty hike
Check out the prices of the Apple iPhones post the custom duty hike.
Finance Ministry
16 Dec 2017
Apple iPhones to get costlier as govt raises import tax on cellphones
Apple imports nearly 88 percent of its devices into the country.
Finance Ministry
15 Dec 2017
Govt raises customs duty on some electronic items including TV, mobile phone
As per a government notification, customs duty on television set has been increased to 15 percent from the existing 10 percent.
Goods and Services Tax
26 Apr 2017
Mobile prices to go up as government may slap customs duty on imported handsets
Certain exemptions that are currently available to domestic handset makers will have to go after the GST regime comes into force.
Medical devices industry
10 Mar 2016
Industry opposes import duty hike on medical devices
Medical devices industry has strongly opposed the government's proposal to increase the import duty, saying it will increase healthcare costs for patients and hurt the Rs 50,000-crore industry.
Gold import tariff
24 Jul 2015
Govt cuts tariff value on imported gold for 2nd straight week
The government on Friday slashed the import tariff value on gold for the second straight week to USD 354 per 10 gm in line with weak global prices of the precious metal.
Gold import tariff
01 Jun 2015
Government reduces tariff value on gold, silver
During last fortnight, the tariff value on imported gold was USD 398 per 10 grams and on silver at USD 567 per kg.
Customs
12 Mar 2015
Customs duty evasion: Fin Min proposes to reduce penalty
Government proposes to reduce by 10 percent the penalty levied in cases involving fraud and other means to evade customs duty.
Budget 2015
08 Feb 2015
Maintain customs, excise, service tax rates in Budget: CII
The rates of service tax, central excise and customs duties be maintained at the current level in the Budget in order to aid the success of the 'Make in India' initiative, industry body CII has said.
CII
10 Dec 2014
CII for reduction in CST rate in forthcoming Budget
Industry body CII Wednesday said the government should announce measures like removal of anomalies in customs duty, reduction in CST rate, rationalisation of CENVAT credit scheme, among others in the forthcoming Budget.
Gold
01 Oct 2014
Govt cuts import tariff value on gold & silver
The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis considering volatile global prices.
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