Page 8 - Customs Duty

Budget 2020: Customs duty ambiguity on imported solar power equipment

Solar modules constitute 80% of the cost of a solar power project.

FM prepares ground for new electronics policy to boost local production

But Customs duty hike may lead to price rise in EVs, ACs, refrigerators & handsets

Budget 2020 in 2 minutes: Fiscal deficit target, income tax rates, and more

The personal income tax has been simplified and reduced. Individuals will have to pay tax at the reduced rate of 10% for incomes of Rs 5-7.5 lakh, against the current rate of 20%

Budget 2020: FM proposes hike in Customs duties, outlines road map for more

Govt to trim exemptions by Sept, review customs law and procedures in line with ease of doing business

Budget 2020: Govt to review customs duty exemptions on products by Sept

Finance Minister Nirmala Sitharaman while presenting the Budget for 2020-21 said exemptions from customs duty have been given in public interest from time to time

FM declares hike in customs duty on imported fans, tableware, kitchenware

Customs duty on catalytic converters, parts of commercial vehicles, other than electric vehicles, have also been hiked

Budget 2020: Steel sector seeks relief in customs duty on key raw materials

Industry body said exemption available to coking coal was also removed by the government in 2014-15 Budget by bringing it at par with other types of coal and imposing 2.5 per cent basic customs duty

Budget 2020: Stainless steel sector seeks zero duty on ferro-nickel, scrap

Removal of duty on ferro-nickel and stainless steel scrap is a long standing demand and the Ministry of Steel has also at times batted for zero duty on these items.

Budget 2020: Govt may hike customs duty on toys, certain paper, footwear

The Commerce and Industry Ministry in its Budget recommendations to the Finance Ministry has proposed rationalisation of basic customs or import duty on over 300 items from different sectors

No customs duty on transfer of goods from one SEZ to another: Expert

For accounting purposes, the depreciation can be worked out as per the Companies Act and for income tax purposes, as per income tax laws

Govt to appoint officers to exclusively handle GST, Customs complaints

Industry and tax experts have hailed the decision saying that the move would ensure an escalation point for taxpayers in case their grievances are not addressed at designated level

Renewables ministry asks FinMin to impose customs duty on solar cells

The renewables ministry wants separate classification for solar PV cells and modules used for clean energy projects and levy duties on their import

Budget impact: Companies bat for Customs duty rollback on ACs, TVs

Customs duty on ACs imported completely is 20%, following a 10% increase in September last year

Hiccups for telecom fiber rollout with higher duty on optic fiber

Local optic fiber manufacturers cheer the move

Make in India, clean energy dictate customs & excise duty changes in Budget

Government expects 19 per cent growth in Customs collection

Budget 2019: India Inc grim over customs, direct tax surcharge uptick

Industry captains, experts at CII, FICCI praise some measures; say government could have done much more

No need to pay customs duty on imported gifts valued below Rs 5,000

For occasional gifting, the sender can split the package to ensure the parcel is below the duty-free value

Response to trade war takes centre stage as govt mulls fresh import curbs

Items being considered include metals, minerals and more electronic finished goods

Flipping the protectionist coin

The customs duty rejig is a balancing act between fiscal deficit & fiscal prudence

Importing worries

Raising Customs duties has many downsides