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Import Duty News
Budget 2021 | Drastically reduce in Import Duty on Gold-Silver
Mon, Feb 01, 2021
Import Duty on Gold-Silver dropped from 12.5% to 7.5%, with an Agri Infra Cess of 2.5%. Agri cess will be levied on import duty.
Good news for paper sector! Import duty hike, ban on Chinese imports likely; check Anil Singhvi analysis
Mon, Jun 22, 2020
In a good news for the paper sector and likely relief for local manufacturers, Zee Business has learnt from its Commerce Ministry sources that import duty may soon be hiked to 20-25% in this segment. Also, a ban may be imposed on cheap Chinese imports as well.
Import tariffs on FTA countries are creating Inverted Duty Structure in India; Government should correct it: Atul B Lall, Dixon Technologies
Fri, Jul 19, 2019
The duty increase that you are referring about on CCTV and Air Conditioners then it is in the same direction. I feel, these steps will give a boost to the Make in India and also help to Indian industry, Atul B Lall, Dixon Technologies.
India cuts duty on crude, refined palm oil imported from ASEAN
Tue, Jan 01, 2019
The government has cut import duties on crude and refined palm oil effective Tuesday to comply with preferential trade pacts with Southeast Asian nations.
Modi govt imposes another duty hike; cell phones, washing machines, more to get more expensive
Fri, Oct 12, 2018
The second such move by the government in a two week span, was announced late on Thursday to raise import barriers to curtail the import of goods it deems as "non-essential" items.
Modi govt's import duty hike on 19 items has no bite?
Mon, Oct 01, 2018
The government’s decision to raise import duty on 19 items may be merely a case of good optics since it will have a negligible effect on lowering overall imports.
India heads into a very expensive Diwali! Flying, footwear ACs to jewelry, all to hit your pocket; check full list of items
Fri, Sep 28, 2018
Basic customs duties have been raised on 19 products that accounted for an import bill of approximately Rs 86,000 crore in FY18 by 2.5-10% points.
Apple hikes prices of iPhones post-Budget FY19; will others follow the suit?
Mon, Feb 05, 2018
The custom duty increase would be third increase in last 12 months, followed by Indian government.
India, Israel ink nine pacts on cyber security, other sectors
Mon, Jan 15, 2018
India today assured Israeli firms to resolve their concerns and make things easier for them to do business here.
Already behind schedule, Tesla's India entry marred by Govt inaction?
Wed, Sep 27, 2017
Tesla was supposed to be launched in India this summer, however it has been long past the timeline and it looks like the electric car maker is once again in the process of starting a dialogue with the government.
Import duty to be reduced to 2% on gold
Tue, Apr 18, 2017
Import duty to be reduced to 2% on gold. Watch the full segment for more details.
Steel Ministry to continue with import duty reduction demand
Fri, Feb 03, 2017
India's steel ministry in its recommendations for Union Budget 2017-18 to the Finance Ministry has asked for reduction in the import duty on the coking coal.
Budget 2017: FM Arun Jaitley may cut taxes, lack of indirect-tax data may make it tough
Thu, Jan 26, 2017
Tax experts have said that Finance Minister Arun Jaitley is likely to cut taxes in Budget 2017.
Demonetisation drive to favour country's big gold jewellery store chains: World Gold Council
Tue, Jan 24, 2017
India`s drive to bring transparency to bullion trading, along with the rise of branded gold jewellery, could help major retailers raise their share of the world`s second-biggest gold market to 40% by 2020, the World Gold Council (WGC) said.
Budget 2017: Government may announce incentives for gems & jewellery
Mon, Jan 23, 2017
The government is expected to announce steps like cut in the gold import duty and incentives to set up gems and jewellery parks in the next Budget 2017 to promote growth of the industry.
India rules out lowering sugar import tax in near term, says government source
Thu, Jan 19, 2017
Indian government is unlikely to lower import duty on sugar due to decline in its production on account of cane shortage.
GJEPC expects FM Arun Jaitley to reduce import duty on gold to 5% in Budget 2017
Thu, Jan 12, 2017
To curb grey market and boost the organised players, the Gem and Jewellery Export Promotion Council (GJEPC) is expecting Finance Minister Arun Jaitley to reduce the import duty on gold to around 5%in the upcoming Union Budget.
Keep labour-intensive sectors out of GST ambit: Nirmala Sitharaman
Tue, Jan 03, 2017
Commerce and Industry Ministry on Tuesday asked the GST Council to grant ab-initio exemption to exporters from the Goods and Services Tax (GST) and keep the labour-intensive sectors like leather and plantation completely out of the tax net or put them in lowest slab.
Steel Ministry seeks lower import taxes on key raw materials
Tue, Jan 03, 2017
India`s Steel Ministry wants lower import taxes on a number of key steelmaking raw materials, including nickel, to protect the domestic industry from the rising costs of basic resources, a senior government official said on Tuesday.
WATCH: Top 5 stories of this afternoon; From fall in key Indian equity market indices to SBI slashing rates up to 1.9%
Thu, Nov 24, 2016
Zee Business brings you the most important stories of the day that will help you shape your market strategies and keep you informed with the latest developments. Top five stories of this afternoon: 1. Ahead of November F&O expiry markets fall