Custom Duty News

News

Tariff protection for boosting local production likely for limited period

The goal is to incentivise investments into local production of electronic items without making tariff protection a permanent feature, said a govt official

2 min read19 Oct 2020
News

Import of mobiles, cameras, electronic items from FTA partners under scanner

What has caused concern among the authorities is the fact that while India’s exports to FTA partner countries remain almost flat under major treaties, imports rose rapidly

2 min read15 Sep 2020
Companies

Import tax on lithium cell likely

The Centre may levy basic custom duty on lithium-ion cell imports up to 2030.

2 min read13 Jul 2020
Politics

Govt considers customs duty hike on products amid stand-off with China

Discussion is on over hiking duties on goods imported mainly from ChinaThe move to raise duty also assumes significance as the government is working on ways to boost local manufacturing and promote Make in India

1 min read18 Jun 2020
News

Coronavirus update: Govt exempts customs duty, cess on essential medical goods

Govt removed custom duty and health cess on ventilators, face and surgical masks, personal protection equipment and Covid-19 test kitsThese exemptions will also be applicable on inputs used to manufacture these items

1 min read9 Apr 2020
Technology

Mobile handset prices may rise by 2-7% due to customs duty hike

Fully imported mobile phones account for a very small portion in Indian marketOnly 8% of phones sold are above the ₹25,000 range

2 min read5 Feb 2020
Budget 2019

Customs duty hike to make imported mobile phones, chargers slightly expensive

Government increases customs duty by 5-10%New scheme to come up to encourage domestic manufacturing of mobile phones

3 min read1 Feb 2020
Industry

How India plans to reduce its edible oil import dependency

The government has decided to raise customs duty on the import of refined palm oil from Malaysia to 50% from 45% for six monthsImports of refined palm oil from Malaysia increased from 626,362 MT in 2016-17 to 2,596,225 million tonnes in January-June 2019

2 min read6 Sep 2019
Mutual Funds

New tranche of gold bonds out with a discount

Sovereign gold bonds come at an issue price of ₹3,443 per gram, with a discount of 1.45%, which partially counteracts the customs duty hike of 2.5%For those who wish to invest in it, sovereign gold bonds have emerged has a highly efficient vehicle

3 min read8 Jul 2019
Markets

Why big bets are being placed on gold

As Indian stock markets tumble, a gold rally has been silently underway. What is up with the yellow metal?

9 min read8 Jul 2019
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