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Deadline To Impose Higher Duties On American Products Extended
On Friday, the government extended the deadline to impose higher customs duties on 29 products imported from the US, that include walnuts, pulses and almonds to 2 May. On the recommendations of the department of commerce, the finance ministry will once ...
TV Sets, Microwave, Others To Cost More Post-Customs Duty Hike
Customers will have to shell out more to buy television sets, microwave, LED lamps and some other electronic items after the government last week hiked import duty on such items to drive up local manufacturing. According to the government notification, Customs ...
Gold In India Selling At Huge Discounts
In comparison to international gold prices, gold in the Indian subcontinent was selling at huge discounts on Friday owing to weak demand as well as rise in imports of the precious yellow metal from South Korea. Before the roll out ...
Custom Duty, IGST Collection Doubles Post GST in July
A Government Official has said that the collections from customs duty and IGST from imports post implementation of Goods and Services Tax (GST) has almost doubled to Rs 30,000 crore in July.As per reports, the revenue collected include those on account ...
Custom Duty Igst Collection Doubles Post Gst July
Tax Department To Start Consultation On Changes In Customs Act
The tax department has asked officials to start an outreach programme with stakeholders and make systemic changes to implement proposed modifications in the Customs Act aimed at de-cluttering ports and enhancing revenue. The Finance Bill 2017 proposes to modify the Customs ...
NRIs, Indians Returning Home To Show Banned Notes To Customs
NRIs and Indians returning from abroad will have to physically show the junked 500 and 1,000 rupee notes to Customs officials at the airport and get a declaration form stamped before they can deposit the demonetised currency in RBI during the ...
Nris Indians Returning Home Show Banned Notes Customs
Indirect Tax Collection Jumps 34% In Apr-Nov
Buoyed by 34 per cent jump in indirect taxes during April-November this fiscal, Revenue Secretary Hasmukh Adhia said government may exceed the collection target from customs, excise and service tax, and thus make up for the "likely shortfall" on the direct ...
Restriction on gold import to be reviewed by March: FM
The Union Finance Minister P. Chidambaram on Monday said that the restricting the import of gold helped in containing Current Account Deficit (CAD) and balance of payments' position. "The restrictions on gold may be revisited at the end of the current ...
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