customs duty

customs duty

The basic customs duty on crude palm oil, crude soyabean oil and crude sunflower oil has been reduced from 2.5 per cent to nil.

Edible oil duties slashed to curb prices

The government has reduced the basic customs duty and agricultural cess on certain edible oils till March 31, 2022 to soften prices
14 Oct 2021 1:27 AM
The price hike only applies to iPhone models that are imported and will not affect those assembled in India such as the iPhone XR and iPhone 7. (Photo | Apple)

Apple raises iPhone prices as higher customs duty announced in Union Budget kicks in

High-end iPhone 11 Pro,11 Pro Max as well as mid-range iPhone 8 series now cost more but iPhone XR and iPhone 7 prices remain unchanged
02 Mar 2020 7:55 PM
LG Electronics India said the government's decision will boost domestic manufacturing.

TV makers hail scrapping of duty on open cell panel, mfg cost to go down by 3 pc

The announcement has come just ahead of the festive season sales and would positively impact the sales of LED TV panels.
18 Sep 2019 1:43 PM
So far, 27 rounds of talks at the chief negotiators level have been conducted.

FinMin asks commerce ministry to assess revenue impact of proposed RCEP

India is looking for a balanced trade agreement, as it would cover 40 per cent of the global gross domestic product.
08 Aug 2019 3:03 PM
Customs duty on completely built units of vehicles or fully-imported cars will now attract duty of 30%, up from 25% earlier. (Representional Image)

Union Budget 2019: India-made electronics cheaper

Customs duty on marble slabs has been hiked to 40 % up from 20%.
06 Jul 2019 6:11 AM
The government has revised the import duty on gold and expensive metals to 12.5 per cent from the existing 10 per cent and this will shoot up the prices of gold in the local market.

Hyderabad: Mixed reactions to gold duty hike

The government has revised the import duty on gold and expensive metals to 12.5 per cent from the existing 10 per cent.
06 Jul 2019 12:43 AM
It was proposed to increase duty on other alloy steel and wire of other alloy steel (other than INVAR) to 7.5 per cent from 5 per cent at present. (Photo: Representational)

Budget 2019: Govt hikes customs duty on stainless steel items, alloy steel

The current customs duty on stainless steel products is 5 per cent.
05 Jul 2019 5:30 PM
Sitharaman said surcharges on individuals having taxable income of Rs 2 crore to Rs 5 crore; and Rs 5 crore and more have been raised. (Photo: ANI)

Budget 2019: Petrol, diesel costlier as cess hiked by Re 1 per litre

Finance minister also announced TDS of 2 per cent on cash withdrawal of more than Rs 1 crore from a bank account.
05 Jul 2019 2:25 PM
India's wheat output is expected to scale a record high this year. (Photo: PTI)

Govt hikes customs duty on wheat to 40 pc to curb imports, protect industry

The government wants to restrict overseas purchase so that domestic prices of wheat do not come under pressure.
28 Apr 2019 3:16 PM
The notification is part of the road map under the phased manufacturing programme. (Representational Image)

Govt notifies phased import duty hike on electric PV parts, lithium-ion cells

Basic import duty on battery packs used in manufacturing EV will also be increased to 15 pc from the current 5 pc from April 2021.
12 Mar 2019 8:57 AM
Family members of slain CRPF jawan Sanjay Kumar Singh pay their last respects before his funeral procession, at Masaurhi, in Patna on Saturday. (PTI)

Pulwama terror attack: India hikes import duty on Pakistan goods to 200 per cent

India readies dossier to get Pakistan blacklisted for terror links.
17 Feb 2019 12:23 AM
According to a notification by the finance ministry, the implementation of the duty hike has been postponed until January 31, 2019.

India again defers duty hike on US products till January 31

India is pressing for exemption from high duty imposed by the US on certain steel and aluminium products.
18 Dec 2018 2:40 PM
Reliance Industries Chairman Mukesh Ambani on Thursday said that Reliance is India's largest payer of Goods and Services Tax (GST), Excise and Customs Duty, and Income Tax in the private sector. (Photo: PTI)

Reliance Industries becomes India's largest tax payer in private sector

RIL's consolidated net profit for the fourth-quarter of fiscal 2017-18 stood at Rs 9,435 crore.
05 Jul 2018 3:47 PM
An arrest warrant has been issued against absconding diamantaire Nirav Modi in connection with the case of evasion of Customs duty, registered by the Directorate of Revenue Intelligence (DRI).

Arrest warrant issued against Nirav Modi in customs evasion case

The warrant was issued under Section 70 of the Code of Criminal Procedure Act, 1973.
25 Jun 2018 11:24 AM
Representational image

India for customs duty hike on 30 US items

Raise in tariffs by New Delhi will hit US by $241 million.
17 Jun 2018 1:05 AM
Customs duty on motorcycles with engine capacity over 800 cc will be raised up to 50 per cent, almonds 20 per cent, walnuts 20 per cent and apples 25 per cent.

India proposes retaliatory tariffs on 30 products from United States

India expects around USD 238.09 million of duty to be collected through the measure imposed on the US.
16 Jun 2018 3:05 PM
The world's biggest beer maker Anheuser Bush (AB InBev) is hopeful of returning to normal growth in India this year, its India President Ben Verhaert said.

World's biggest beer maker AB InBev expects 'normal' growth in India

Though India offers great opportunity to expand the market, higher customs duty has been a bane.
10 Jun 2018 12:35 PM
Government's third advance estimate has pegged wheat output at a record 98.61 million tonnes for the 2017-18 crop year. (Photo: Pexels)

Govt hikes customs duty on wheat to 30 pc to curb cheaper imports

The country imported 1.48 million tonnes of wheat during 2017-18 fiscal, as per the industry data.
24 May 2018 12:03 PM
Luxury car maker Audi is expecting flat growth in the current calendar.

Audi India expects flat growth in 2018

Audi India slipped to the third position in terms of market share after gaining the number one spot in 2015.
20 Apr 2018 5:15 PM
Increase in custom duty and introduction of social welfare surcharge in lieu of an education cess in the Union Budget made the increase in price inevitable.

Audi to hike car prices by up to Rs 9 lakh from April

Price across the entire model range will be increased by up to 4 per cent owing to the hike in the customs duty.
16 Mar 2018 1:35 PM

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What do we know about 'stealth omicron' so far?

In rare cases, early research indicates BA.2 can infect people even if they’ve already had an omicron infection. COVID-19 vaccines appear just as effective against both kinds of omicron, offering strong protection against severe illness and death. (DC file photo)
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