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custom duty

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Panel to fix rates for exporters’ duty refund scheme to submit report in few weeks: Finance Secretary

The scheme would refund to exporters the embedded central, state and local duties and taxes that were so far not being rebated or refunded and were, therefore, placing India’‘s exports at a disadvantage.
Finance Secretary Ajay Bhushan Pandey said that immediately after getting the report, the RoDTEP (Remission of Duties and Taxes on Exported Products) rates would be notified.(Sonu Mehta/HT file photo)
Finance Secretary Ajay Bhushan Pandey said that immediately after getting the report, the RoDTEP (Remission of Duties and Taxes on Exported Products) rates would be notified.(Sonu Mehta/HT file photo)
Published on Jan 05, 2021 02:43 PM IST
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New Delhi | ByPress Trust of India | Posted by Deepali Sharma

Mahatma Gandhi’s bowl, cutlery to be auctioned in UK

Gandhi heirlooms -- letters, photographs, portraits, books, sandals, spectacles among other items -- attract collectors of all sorts, both institutions and individuals, throughout the world.
The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)
The present set of bowl and cutlery have excellent provenance. It comes from the collection of one-time shipping magnate Sumati Morarjee, a well-known devotee of Mahatma Gandhi.(Getty Images/Keystone)
Updated on Dec 29, 2020 08:11 PM IST
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London | ByAsian News International | Posted by Shankhyaneel Sarkar

SC rescues traders facing 200% customs duty on Pak imports post-Pulwama attack

The Supreme Court on Wednesday came to the rescue of certain traders who were asked to pay “enhanced custom duty of 200%” on imported goods from Pakistan due to sudden increase in the tariff by the Centre following the 2019 Pulwama terror attack and ordered that they will have to pay the duty under the older tariff.
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HT Image
Updated on Sep 24, 2020 12:14 AM IST
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Hindustan Times/New Delhi | ByPress Trust of India, New Delhi

Delhi businessman arrested by Mumbai customs for evading duty

He is accused of illegally importing old hard disks worth 7.40 crore, involving customs duty worth 1.33 crore
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HT Image
Updated on Aug 20, 2020 10:57 AM IST
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Hindustan Times, Mumbai | ByVijay Kumar Yadav

Govt proposes to slash import duty on newsprint to 5%

Addressing the Lok Sabha while presenting her second Union Budget, Sitharaman said she had received references saying that the levy on newsprint has put additional burden on the print media at a time when it is going through a difficult phase.
Union finance minister Nirmala Sitharaman announced on Saturday a reduction in basic customs duty on imports of newsprint and lightweight coated paper from 10% to 5%.(Reuters (Representative Image))
Union finance minister Nirmala Sitharaman announced on Saturday a reduction in basic customs duty on imports of newsprint and lightweight coated paper from 10% to 5%.(Reuters (Representative Image))
Updated on Feb 02, 2020 06:03 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Indo-Pak tension hits border economies

As things stand today, Amritsar district is losing ~30 crore it earned each month through the Attari-Wagah border trade.
Catalogued accounts of traders, and truckers show that trade disruptions have directly or indirectly impacted 52,000 members of the suffering families.(PTI)
Catalogued accounts of traders, and truckers show that trade disruptions have directly or indirectly impacted 52,000 members of the suffering families.(PTI)
Updated on Jan 17, 2020 05:10 AM IST
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Hindustan Times, New Delhi | ByVinod Sharma

Misuse of customs duty waiver: Jalandhar hotelier gets clean chit in 2012 case

The directorate of revenue intelligence (DRI) has given a clean chit to Gautam Kapoor, owner of Radisson Hotel Jalandhar, in an 8-year-old case regarding misuse of the government scheme for import of cars by hotels at concessional duty. Welcoming the order, Kapoor said “Although, it had taken so much time, but I am satisfied that justice has finally prevailed.
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HT Image
Published on Jan 07, 2020 11:40 PM IST
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Hindustan Times, Jalandhar | ByHT Correspondent, Jalandhar

Indian Newspaper Society asks govt to roll back customs duty on newsprint

It also highlighted the issue of inadequate availability of some kinds of newsprint, and total unavailability of some others in the country, creating the need for imports.
The Union Budget announced by finance minister Nirmala Sitharaman on Friday said a 10% custom duty will be levied on imported newsprint and uncoated paper used for printing of newspapers.(AP)
The Union Budget announced by finance minister Nirmala Sitharaman on Friday said a 10% custom duty will be levied on imported newsprint and uncoated paper used for printing of newspapers.(AP)
Updated on Jul 09, 2019 10:57 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent

Customs duties to be hiked on many items

The net revenue gain in direct taxes is, however, Rs 6,000-7,000 crore as the budget proposed to slash corporate tax while raising taxes on high net-worth individuals, he said, addressing a press conference after the budget was presented in Parliament by finance minister Nirmala Sitharaman.
The budget could manage net revenue of Rs 25,000 crore by raising customs duty on items such as cashew kernels, metal fittings, mounting for furniture, auto parts and optical fibre cable(Arvind Yadav/HT PHOTO)
The budget could manage net revenue of Rs 25,000 crore by raising customs duty on items such as cashew kernels, metal fittings, mounting for furniture, auto parts and optical fibre cable(Arvind Yadav/HT PHOTO)
Published on Jul 06, 2019 01:36 AM IST
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New Delhi | ByHT Correspondent

Budget 2019: Petrol, diesel tax up by 2, customs duty on gold raised to 12.5%

Budget 2019: Presenting the first Budget of the Modi government in its second term, Sitharaman said surcharges on individuals having taxable income of 2 crore to 5 crore; and 5 crore and more have been raised.
The cess on petrol and diesel have been increased by Re 1 per litre. In addition, Nirmala Sitharaman also raised the special additional excise duty by Re 1 each on the two fuels.(HT Photo)
The cess on petrol and diesel have been increased by Re 1 per litre. In addition, Nirmala Sitharaman also raised the special additional excise duty by Re 1 each on the two fuels.(HT Photo)
Updated on May 28, 2020 09:21 PM IST
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New Delhi | ByAgencies

Budget 2019: Gold to be costlier with customs duty up from 10% to 12.5%, says Nirmala Sitharaman

Analysts said the rise in gold prices was mostly on the back of fresh positions built up by the participants. However, a weak trend overseas limited the gains in gold futures.
Union Finance Minister Nirmala Sitharaman presents the Union Budget 2019 at Lok Sabha in New Delhi on Friday.(ANI Photo)
Union Finance Minister Nirmala Sitharaman presents the Union Budget 2019 at Lok Sabha in New Delhi on Friday.(ANI Photo)
Updated on Jul 05, 2019 03:07 PM IST
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Hindustan Times, New Delhi | ByHT Correspondent

India levies higher customs duty on 28 US products

The move will hurt American exporters of these 28 items as they will have to pay higher duties, making those items costlier in the Indian market.
India on Saturday announced a hike in customs duties on as many as 28 US products, including almond, pulses and walnut, in response to higher tariffs imposed by Washington on Indian products like steel and aluminium.(AFP File Photo)
India on Saturday announced a hike in customs duties on as many as 28 US products, including almond, pulses and walnut, in response to higher tariffs imposed by Washington on Indian products like steel and aluminium.(AFP File Photo)
Updated on Jun 16, 2019 07:38 AM IST
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New Delhi | ByPress Trust of India

India to levy retaliatory tariffs on 29 US products

According to the current notification, the retaliatory tariffs will come into effect beginning June 16.
Key items imported by India from the US include almond and fresh apples worth $645 million and $165 million, respectively. (HT File photo)
Key items imported by India from the US include almond and fresh apples worth $645 million and $165 million, respectively. (HT File photo)
Updated on Jun 14, 2019 11:30 PM IST
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New Delhi | ByAsit Ranjan Mishra

Trump slams India’s ‘unacceptable’ 50% tariff on Harley Davidson motorcycles

India slashed customs duty on imported motorcycles such as Harley-Davidson to 50% after Trump called the tariffs “unfair” and threatened to increase duties on imported Indian motorcycles.
Trump has repeatedly claimed India imposes “tremendously high” duties on US goods.(Reuters file photo)
Trump has repeatedly claimed India imposes “tremendously high” duties on US goods.(Reuters file photo)
Published on Jun 12, 2019 02:35 AM IST
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Hindustan Times, Washington | ByYashwant Raj and Rezaul H Laskar

Japan takes India to WTO over mobile phone import duties

Japan’s complaint, the first step in a legal dispute, said India had sought to foster domestic production by adjusting various taxes including customs duties, especially since it launched the “Make in India” campaign in September 2014.
India’s imports of switchers and routers, totalling $5.7 billion in 2018, were dominated by China and Vietnam, while imports from Japan were worth $52 million, less than 1 percent of the Indian import market.(HT photo)
India’s imports of switchers and routers, totalling $5.7 billion in 2018, were dominated by China and Vietnam, while imports from Japan were worth $52 million, less than 1 percent of the Indian import market.(HT photo)
Updated on May 14, 2019 10:33 PM IST
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Reuters | ByReuters

Import from Pakistan through Attari takes a nosedive

As per officials of Land Port Authorities of India (LPAI), which manages the ICP affairs, around 200 trucks used to import goods from Pakistan to India via Attari on daily basis before the duty hike, but now only 5-10 trucks are coming from across the border.
The Attari ICP is 30 km from Amritsar on the India-Pakistan border, almost midway between the holy city and Lahore.(HT File)
The Attari ICP is 30 km from Amritsar on the India-Pakistan border, almost midway between the holy city and Lahore.(HT File)
Updated on Feb 20, 2019 08:34 AM IST
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Hindustan Times, Amritsar | ByAnil Sharma

Why India lags behind in electric vehicle revolution

The industry should have been given a clear road map to follow, so that the government could effectively implement a carrot-and-stick policy. Without a stick the carrot loses its charm.
Visitors during the inauguration of Electric Vehicle Expo 2018, Pragati Maidan, New Delhi, December 21, 2018(Sushil Kumar/HT PHOTO)
Visitors during the inauguration of Electric Vehicle Expo 2018, Pragati Maidan, New Delhi, December 21, 2018(Sushil Kumar/HT PHOTO)
Updated on Feb 11, 2019 01:00 PM IST
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Hindustan Times | ByKumKum Dasgupta

Even with its quirks, the Mercedes-Benz CLS 300d is worth the price

The performance of this elegantly styled CLS is remarkably good
The downside of the swooping roofline is that it impinges on headroom
The downside of the swooping roofline is that it impinges on headroom
Updated on Feb 09, 2019 11:33 PM IST
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Hindustan Times | ByHormazd Sorabjee

Know your budget: Terms to know before B-Day

The Budget is the most comprehensive report of the government’s finances in which revenues from all sources and outlays for all activities are consolidated. It also contains estimates of the government’s accounts for the next fiscal year.
Monetary policy comprises actions taken by the RBI to regulate the level of liquidity in the economy, or change interest rates.(Aniruddha Chowdhury/Mint)
Monetary policy comprises actions taken by the RBI to regulate the level of liquidity in the economy, or change interest rates.(Aniruddha Chowdhury/Mint)
Updated on Jan 31, 2019 10:37 AM IST
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New Delhi | ByHT Correspondent

Auto industry body seeks increase in customs duty for commercial vehicle CBUs

The auto industry body suggested that for commercial vehicles CBUs, rates should be increased from 25 per cent to 40 per cent.
Vehicles in New Delhi.(AP Photo)
Vehicles in New Delhi.(AP Photo)
Updated on Jan 25, 2019 06:05 PM IST
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New Delhi | ByPress Trust of India

Increase custom duty on imported TV, AC, refrigerators: Manufacturers’ association to govt

According to the industry body, contrary to the ‘net zero import in electronics’ objective of the government, finished goods are often imported at a lower duty than parts in the country, on account of various free-trade agreements.
A customer inspects a refrigerator on display at a store in Mumbai.(Bloomberg)
A customer inspects a refrigerator on display at a store in Mumbai.(Bloomberg)
Updated on Jan 25, 2019 05:54 PM IST
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New Delhi | ByPress Trust of India

Thailand consulate employee cheated of Rs 2.53 crore by ‘internet friends’

A Thane resident working in the Thailand Consulate has filed a complaint claiming some persons he befriended on the internet cheated him of Rs 2.53 crore on the pretext of transferring USD 18 lakh to him, police said on Friday.
The man, along with his wife and two children, had visited Thailand in August 2017, police said.(Picture for representation)
The man, along with his wife and two children, had visited Thailand in August 2017, police said.(Picture for representation)
Published on Jan 25, 2019 01:49 PM IST
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Mumbai | ByPress Trust of India

India again defers duty hike on 29 US products till January 31

Commerce and industry minister Suresh Prabhu will hold bilateral discussions on trade issues with US Commerce Secretary Wilbur Ross on February 14 in New Delhi.
India for the fourth time deferred the deadline to impose retaliatory customs duties on 29 US products, including almond, walnut and pulses, by another 45 days, the government has said.(AFP File Photo)
India for the fourth time deferred the deadline to impose retaliatory customs duties on 29 US products, including almond, walnut and pulses, by another 45 days, the government has said.(AFP File Photo)
Updated on Dec 18, 2018 05:32 PM IST
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New Delhi | ByPress Trust of India

High tax regime may destroy India’s cruise industry: UK operator writes to PM Narendra Modi

Cruise ships operator Carnival UK has written to Prime Minister Narendra Modi and senior members of his cabinet, cautioning against a high tax regime that it said may destroy the cruise industry in India.
Cruise ships operator Carnival UK has written to Prime Minister Narendra Modi and senior members of his cabinet, cautioning against a high tax regime that it said may destroy the cruise industry in India.(HT File Photo)
Cruise ships operator Carnival UK has written to Prime Minister Narendra Modi and senior members of his cabinet, cautioning against a high tax regime that it said may destroy the cruise industry in India.(HT File Photo)
Updated on Nov 06, 2018 10:57 AM IST
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Hindustan Times, New Delhi | ByHT Correspondent, New Delhi

A month of mini crises: How different ministries spent September putting out fires

A spiralling current account deficit led the finance ministry to hike custom duties; allegations of irregularities in the Rafale fighter deal kept the defence ministry busy; and a spat with Pakistan kept the external affairs ministry at the centre of public attention.
Union Ministers Dharmendra Pradhan, Piyush Goyal and Radha Mohan Singh during a cabinet briefing after cabinet ministers meeting, at Shastri Bhawan in New Delhi, on September 12, 2018.(HT File Photo)
Union Ministers Dharmendra Pradhan, Piyush Goyal and Radha Mohan Singh during a cabinet briefing after cabinet ministers meeting, at Shastri Bhawan in New Delhi, on September 12, 2018.(HT File Photo)
Updated on Sep 30, 2018 07:31 AM IST
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Hindustan Times, New Delhi | ByHT Correspondents

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more

Curbing non-essential imports was part of the five-pronged steps announced by the government to check widening current account deficit and capital outflows.
The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods.(Bloomberg Photo)
The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods.(Bloomberg Photo)
Updated on Sep 26, 2018 07:59 PM IST
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New Delhi | ByPress Trust of India

Excerpt: Glow; Indian Foods, Recipes and Rituals for Beauty, Inside and Out by Vasudha Rai

In this excerpt from her book that presents ideas on using sixty Indian ingredients to achieve natural beauty, the author talks about beauty being more than skin deep and presents the goodness of traditional Indian herbs like tulsi and saffron
Getting beautiful inside and out.(Shutterstock)
Getting beautiful inside and out.(Shutterstock)
Updated on Sep 07, 2018 08:51 PM IST
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Hindustan Times | ByVasudha Rai

Centre releases Rs 600 cr to flood-hit Kerala, waives off customs duty, GST on relief materials

The central assistance of Rs 500 crore as announced by PM Modi and Rs 100 crore announced by Rajnath Singh for flood affected Kerala was released to the government of Kerala on Tuesday.
A student dries out his school books after flooding hit his home in Kochi on August 21.(AFP Photo)
A student dries out his school books after flooding hit his home in Kochi on August 21.(AFP Photo)
Updated on Aug 21, 2018 08:06 PM IST
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New Delhi | ByPress Trust of India

Revenue intelligence agency serves arrest warrant to Nirav Modi for evading customs duty

The warrant against absconding diamantaire Nirav Modi was issued by a court in Surat in Gujarat after he failed to appear before it in connection with a case of alleged customs duty evasion.
File photo of absconding diamantaire Nirav Modi.(Reuters Photo)
File photo of absconding diamantaire Nirav Modi.(Reuters Photo)
Updated on Jun 24, 2018 06:32 PM IST
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Press Trust of India, New Delhi | ByPress Trust of India

South Korea seeks relaxation from India on gold, silver import norms

In August 2017, India restricted imports of gold and silver items from South Korea to check spurt in the inbound shipments of the precious metals from that country.
India is the world’s second biggest gold consumer after China. The imports mainly take care of demand by the jewellery industry.(File photo)
India is the world’s second biggest gold consumer after China. The imports mainly take care of demand by the jewellery industry.(File photo)
Updated on Jun 03, 2018 11:55 AM IST
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Press Trust of India, New Delhi | ByPress Trust of India
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