Tag: Import duty

Jewellers urge Centre to cut import duty on gemstones by half

GJEPC has called on the Union Finance Minister to propose import duty cut in the upcoming Union Budget 2023-24.

December 24, 2022

Centre hikes duty on platinum to 15.4% from 10.75% to curb imports

India has raised the total import duty on platinum to 15.4 per cent from 10.75 per cent, the government said in a notification on Monday, seeking to bring parity in the import duty structure between gold and platinum.

October 4, 2022

‘Increase in import duty on gold, will not have major impact on demand’

On Thursday, the central government increased the customs duty on gold from 10.75 per cent to 15 per cent to curb gold imports.

July 1, 2022

The cotton producers of Tamil Nadu are on a warpath

The cotton producers of Tamil Nadu are on a warpath as the central government has effected exemption for the Agriculture Infrastructure and Development Cess and Basic Customs Duty for the import of cotton.

April 17, 2022

We want to do so, but import duties are the highest in India : MUSK

Musk said, "If Tesla is able to succeed with imported vehicles, then a factory in India is quite likely."

July 24, 2021

Slash import duty on medical equipment raw material: FICCI

It has also sought import duty cut for the medical equipment which are not produced in the country.

January 31, 2021

Airline stocks fall up to 5% on hike in import duty of jet fuel

Shares of Jet Airways tumbled 4.82 per cent, SpiceJet 1.95 per cent and InterGlobe Aviation 1.27 per cent on BSE.

September 27, 2018

Customs duty on 19 items hiked; flying, ACs, refrigerators to cost more

The other items include washing machines, speakers, radial car tyres, jewellery items, kitchen and tableware, certain plastic goods, and suitcases.

September 27, 2018

Himachal farmers hail hike in import duty of ‘Washington Apples’

The Centre government’s decision to hike import duty of apples and other items from United States (US) has brought cheers to the apple farmers in Himachal Pradesh. Now the duty on apples imported from US will be 75 per cent, while from the other countries will be 50 per cent import duty. This has brought...

June 26, 2018

‘Fantastic man’ Modi thinks India is doing us a favour: Trump

In less than 15 days after expressing his disappointment over India’s tariff structure on India’s import of American motorcycles, US President Donald Trump went back to the complaining board against New Delhi and Prime Minister Narendra Modi. Addressing the governors of all 50 states of the US at the White House, Trump said that his...

February 27, 2018

Refined palmolein prices spurts on import duty

Refined palmolein prices spurted at the Vashi oils and oilseeds wholesale market here today after Centre raised import duty to 40 per cent from 20 percent in a bid to curb cheaper shipments and boost local prices. While, groundnut oil and linseed oil prices ended stable in the absence of any worthwhile buying support. In...

November 18, 2017

To protect farmers, Centre hikes import duty on edible oils

The Centre has raised import duty on crude palm oil to 30 per cent from 15 per cent and on refined oil to 40 per cent from 20 per cent in a bid to curb cheaper shipments and boost local prices for supporting farmers and refiners, according to a notification. Import duty on soyabean oil,...

November 18, 2017

Bangladesh cuts import duty on rice

Bangladesh has cut import duty on rice from 28 per cent to 10 per cent in a bid to stabilise the domestic market, Commerce Minister Tofail Ahmed announced on Tuesday. Ahmed said the price of rice was expected to fall by 6 taka per kg as a result of the duty reduction, reports Xinhua news...

June 20, 2017

Govt allows duty free import of raw sugar

The government on Wednesday allowed duty free import of raw sugar upto 5,00,000 tonnes to boost domestic supplies and check price rise amid production fall. The duty-free imports will be allowed until June 12 under the Tariff Rate Quota (TRQ), according to a notification laid in Parliament. As per the government estimate, the country's sugar production is...

April 5, 2017

Govt imposes 10% import duty on wheat, tur dal

The government on Tuesday imposed 10 per cent import duty on wheat and tur dal with immediate effect in a bid to protect farmers' interest, amid projection of a record crop this year. On December 8, the government had reduced customs duty on wheat to zero from 10 per cent to boost domestic availability and...

March 28, 2017