Customs Duties In India
- All
- News
- Videos
-
Indian Man Gets 30-Month Jail In US For Customs Duty Evasion On Jewellery
An Indian man who ran jewellery companies in New York has been sentenced to 30 months in prison for evading customs duty for importing jewellery worth more than USD 13.5 million and for illegally processing over USD 10.3 million through an unlicensed
-
Customs Department Imposes Fine On IndiGo, Airline To Take Legal Measures
Leading airline IndiGo on Wednesday said the customs department has imposed a fine of little over Rs 25 lakh on the company in relation to duty on jet fuel.
-
iPhone 15, iPhone 14 and Other Models in India Get Price Cuts of Up to Rs. 5,900 as Import Duty Reduces
Apple has reduced the price of iPhone 15, iPhone 14 and other models in India following a reduction in the import duties. Consequently, the prices of some of Apple’s most popular models have seen a price drop from as little as Rs. 300 to as high as Rs. 5,900. The official Apple India website now reflects the revised prices.
-
Gold Prices Drop By Rs 5,000/10gm Post Budget, Bring Cheers To Investors
Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal.
-
Why Imported Phones May Become Cheaper After Union Budget
Finance Minister Nirmala Sitharaman has slashed customs duty on mobile phones and their components, a move that could see a reduction in prices of imported handsets
-
Nirmala Sitharaman Announces Cut In Customs Duty On Gold, Silver To 6%
Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday proposed a reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.
-
Budget 2024: What Is Cheaper, What Is Costlier?
Finance Minister Nirmala Sitharaman today announced a major reduction in customs duty on cancer medicines and mobile phones, which will significantly bring down their prices in the retail market.
-
Union Budget 2024: Key Takeaways, Technology-Related Announcements Made by Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024-25 making history as the first finance minister to present seven union budgets. The latest budget slashes the basic customs duty (BCD) on mobile phones and related components to 15 percent and makes other provisions related to the space and technology sector.
-
Government Should Rationalise Customs Duty In Budget: Indian Chamber Of Commerce
The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing.
-
Indian-American Jeweller Charged In Multi-Million Dollar Trade Fraud
An Indian jeweller has been indicted for illegally evading customs duties for millions of dollars of jewellery imports into the US and operating unlicensed money transmitting businesses, a US attorney has said.
-
Vietnam's VinFast Seeks EV Import Duty Cut as Plant Construction Starts in India
Vietnamese electric vehicle maker VinFast has asked India to reduce import duties on its cars for about two years so customers can get familiar with its products while a local manufacturing plant comes on stream, an executive said on Sunday.
-
Government Said to Seek an End to WTO’s 1998 Tariff Freeze on Digital Trade
The government is said to be planning to push the World Trade Organization to lift a moratorium on customs duties on electronic transmissions. Such a move by the WTO would allow tariffs to be imposed on anything from software downloads to video games.
-
Oppo, Vivo, Xiaomi Found Evading Tax Worth Rs. 9,000 Crore; Rs. 1,630 Crore Recovered So Far: MoS IT
Chinese smartphone makers, including Oppo Mobile, Vivo India and Xiaomi Technology, have been found evading taxes worth Rs. 9,000 crore in India, Parliament was informed on Friday. Data shared by the Minister of State for Electronics and IT Rajeev Chandrasekhar in Rajya Sabha showed tax evasion comprising customs duty and GST.
-
Budget 2023: Extend Camera Lens Duty Concession to Other Electronic Segments ELCINA Says
Electronic components industry body ELCINA on Thursday asked the government to extend the duty concession on camera lenses and their components to all other electronic product segments that use camera modules. The government has also reduced customs duty on parts of open cells of TV panels from 5 percent to 2.5 percent.
-
Customs duty changes in Budget will promote Make in India initiative: GTRI
The Global Trade Research Initiative (GTRI) also said the import duty changes in Union Budget 2023-24 affect products that count for less than $14 billion or 2 per cent of the value in India's current import basket.
-
Indian Man Gets 30-Month Jail In US For Customs Duty Evasion On Jewellery
An Indian man who ran jewellery companies in New York has been sentenced to 30 months in prison for evading customs duty for importing jewellery worth more than USD 13.5 million and for illegally processing over USD 10.3 million through an unlicensed
-
Customs Department Imposes Fine On IndiGo, Airline To Take Legal Measures
Leading airline IndiGo on Wednesday said the customs department has imposed a fine of little over Rs 25 lakh on the company in relation to duty on jet fuel.
-
iPhone 15, iPhone 14 and Other Models in India Get Price Cuts of Up to Rs. 5,900 as Import Duty Reduces
Apple has reduced the price of iPhone 15, iPhone 14 and other models in India following a reduction in the import duties. Consequently, the prices of some of Apple’s most popular models have seen a price drop from as little as Rs. 300 to as high as Rs. 5,900. The official Apple India website now reflects the revised prices.
-
Gold Prices Drop By Rs 5,000/10gm Post Budget, Bring Cheers To Investors
Gold prices have corrected sharply by 7 per cent or Rs 5,000 per 10 grams in the local markets after the government slashed basic custom duty on gold, and the lower costs will encourage more people to invest in the yellow metal.
-
Why Imported Phones May Become Cheaper After Union Budget
Finance Minister Nirmala Sitharaman has slashed customs duty on mobile phones and their components, a move that could see a reduction in prices of imported handsets
-
Nirmala Sitharaman Announces Cut In Customs Duty On Gold, Silver To 6%
Union Budget 2024: Finance Minister Nirmala Sitharaman on Tuesday proposed a reduction in basic customs duty on gold and silver to 6 per cent and platinum to 6.4 per cent.
-
Budget 2024: What Is Cheaper, What Is Costlier?
Finance Minister Nirmala Sitharaman today announced a major reduction in customs duty on cancer medicines and mobile phones, which will significantly bring down their prices in the retail market.
-
Union Budget 2024: Key Takeaways, Technology-Related Announcements Made by Finance Minister Nirmala Sitharaman
Finance Minister Nirmala Sitharaman on Tuesday presented the Union Budget 2024-25 making history as the first finance minister to present seven union budgets. The latest budget slashes the basic customs duty (BCD) on mobile phones and related components to 15 percent and makes other provisions related to the space and technology sector.
-
Government Should Rationalise Customs Duty In Budget: Indian Chamber Of Commerce
The Indian Chamber of Commerce (ICC) has suggested the government to rationalise customs duties in various sectors including steel, solar battery, aluminum, and lithium cells in a bid to boost domestic manufacturing.
-
Indian-American Jeweller Charged In Multi-Million Dollar Trade Fraud
An Indian jeweller has been indicted for illegally evading customs duties for millions of dollars of jewellery imports into the US and operating unlicensed money transmitting businesses, a US attorney has said.
-
Vietnam's VinFast Seeks EV Import Duty Cut as Plant Construction Starts in India
Vietnamese electric vehicle maker VinFast has asked India to reduce import duties on its cars for about two years so customers can get familiar with its products while a local manufacturing plant comes on stream, an executive said on Sunday.
-
Government Said to Seek an End to WTO’s 1998 Tariff Freeze on Digital Trade
The government is said to be planning to push the World Trade Organization to lift a moratorium on customs duties on electronic transmissions. Such a move by the WTO would allow tariffs to be imposed on anything from software downloads to video games.
-
Oppo, Vivo, Xiaomi Found Evading Tax Worth Rs. 9,000 Crore; Rs. 1,630 Crore Recovered So Far: MoS IT
Chinese smartphone makers, including Oppo Mobile, Vivo India and Xiaomi Technology, have been found evading taxes worth Rs. 9,000 crore in India, Parliament was informed on Friday. Data shared by the Minister of State for Electronics and IT Rajeev Chandrasekhar in Rajya Sabha showed tax evasion comprising customs duty and GST.
-
Budget 2023: Extend Camera Lens Duty Concession to Other Electronic Segments ELCINA Says
Electronic components industry body ELCINA on Thursday asked the government to extend the duty concession on camera lenses and their components to all other electronic product segments that use camera modules. The government has also reduced customs duty on parts of open cells of TV panels from 5 percent to 2.5 percent.
-
Customs duty changes in Budget will promote Make in India initiative: GTRI
The Global Trade Research Initiative (GTRI) also said the import duty changes in Union Budget 2023-24 affect products that count for less than $14 billion or 2 per cent of the value in India's current import basket.
