Tag: Import Duty

The international cotton season would begin in August and the industry here would be in a position to sustain its performance with the pro-active initiative taken by the government, the statement said.

In May, the GST Council, among other exemptions, had decided to exempt the import of Covid relief items irrespective of the mode of procurement -- paid or free of cost -- from the payment of Integrated GST (IGST).

New Delhi: A day after withdrawing the Most Favoured Nation status to Pakistan, India on Saturday slapped a 200 per cent import duty on all goods originating or exported from Pakistan. To enable this, an official notification amended the First Schedule to the Customs Tariffs Act inserting an entry “all goods originating in or exported […]

New Delhi: Gold may lose its glitter this Dhanteras as a sharp rise in the prices of the yellow metal has weakened its demand in the domestic market, according to experts. “On Dhanteras, the gold sales touch around 40 tonnes every year. However, the weak demand may decrease the sales by 50 per cent this […]

New Delhi: Finance Minister Nirmala Sitharaman on Friday in Parliament said imported life-saving drugs including those for spinal muscular atrophy disease for personal use are exempted from basic customs duty but they attract five per cent GST. However, adhoc exemption from goods and services tax (GST) on imported life-saving drugs are given on a case-to-case […]