Customs Duty Exemption
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Basic Customs Duty On Drugs, Food For Treatment Of Rare Diseases Waived
The government has exempted basic customs duty on all drugs and food for special medical purposes imported for personal use for treatment of rare diseases.
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Centre Exempts Imports Of Covid Vaccines From Customs Duty Till March 31
The Central Board of Indirect Taxes and Customs (CBIC) said Covid vaccines, when imported into India by central government or state governments, would be exempt from the whole of customs duty from January 14, 2023 till March 31, 2023.
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Revenue Agency Accuses Samsung Of Evading $212 Million In Import Taxes: Report
The Directorate of Revenue Intelligence (DRI) said Samsung India Electronics Ltd misclassified networking devices called remote radio heads to avail undue exemption of basic customs duty, the Economic Times reported.
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Oppo India Issued Notice for Evading Customs Duties Worth Rs. 4390 Crore, Government Says
Oppo India evaded customs duty worth 4,390 crore, according to an investigation by the Directorate of Revenue Intelligence, according to the government. The Chinese smartphone manufacturer wrongfully used duty exemptions for items imported for use in mobile phone production, according to evidence uncovered by investigators. Oppo also allegedly made...
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Textiles Minister Seeks Early Resolution On Cotton Import Duty Waiver
Union Minister Piyush Goyal has directed authorities to "finalise the matter early", as regards to the extension of cotton import duty waiver
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Centre Allows Duty-Free Import Of Crude Soyabean, Sunflower Oil
The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease domestic prices.
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DRI Busts Racket Of Importing Luxury Cars In The Name Of Diplomats Evading Duty Worth Rs. 25 Crore
The accused imported luxury cars in the name of diplomats but these would be then sold to private buyers, thereby evading 204 per cent of customs duty on vehicles, which has cost the exchequer about Rs. 25 crore in five years.
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Budget 2021: Phones May Get Costlier as Exemptions Revoked, Analysts Say It's a 'Short-Term' Issue
In the Budget 2021 speech, Finance Minister Nirmala Sitharaman announced mobile phone parts like the Printed Circuit Board Assembly (PCBA), Camera Module, and Connectors will see a withdrawal of exemption from custom duty and a moderate 2.5 percent tax will be levied, instead of the ‘nil’ rate offered earlier. Similarly, parts and sub-parts for...
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Centre Exempts Customs Duty, Cess On Ventilators, Masks, COVID-19 Test Kits
The government on Thursday removed customs duty and health cess on ventilators, face and surgical masks, personal protection equipment and COVID-19 test kits with a view to boost availability of these products in the country to fight coronavirus pandemic.
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Pak Gives 23-Year Tax Exemption To Chinese Firm In Gwadar: Report
Pakistan has granted a 23-year income tax holiday, exemptions of sales tax and customs duties to the Chinese operators of the strategic Gwadar Port and its free zone as the two countries stepped up their efforts to build the China-Pakistan Economic Corridor, according to a media report on Wednesday.
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Union Budget 2019: SIAM Welcomes Government's Cut On Import Duty For Electric Vehicle Components
The Society For Indian Automobile Manufacturers (SIAM) has welcomed the central government's move to lower the import duty on CKD and SKD of electric vehicle components. The notification issued by the government earlier this week stated that the parts and components for electric vehicles imported in the country will be lowered by 10 to 15 per cent....
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Imported Mobile Phones May Cost More, Slapped With 10% Customs Duty
Inputs and raw material for manufacture of parts of specified electronics goods, including mobile phones will continue to be exempt from basic customs duty.
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Reconsider Move To Remove Drugs From Duty Exemption: CPI(M)
CPI(M) today asked the Centre to reconsider its decision to remove over 70 drugs including life-saving ones used for treating cancer and HIV from customs duty exemption list, saying the move will make these more expensive resulting in "severe" hardships for patients.
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Government Restores Customs Duty Exemption on 3 Drugs
Government had recently withdrawn duty exemptions on 74 drugs.
-
'Customs Duty on Life Saving Drugs to Help Domestic Firms'
The CBEC has recently withdrawn exemption on as many as 74 drugs.
-
Basic Customs Duty On Drugs, Food For Treatment Of Rare Diseases Waived
The government has exempted basic customs duty on all drugs and food for special medical purposes imported for personal use for treatment of rare diseases.
-
Centre Exempts Imports Of Covid Vaccines From Customs Duty Till March 31
The Central Board of Indirect Taxes and Customs (CBIC) said Covid vaccines, when imported into India by central government or state governments, would be exempt from the whole of customs duty from January 14, 2023 till March 31, 2023.
-
Revenue Agency Accuses Samsung Of Evading $212 Million In Import Taxes: Report
The Directorate of Revenue Intelligence (DRI) said Samsung India Electronics Ltd misclassified networking devices called remote radio heads to avail undue exemption of basic customs duty, the Economic Times reported.
-
Oppo India Issued Notice for Evading Customs Duties Worth Rs. 4390 Crore, Government Says
Oppo India evaded customs duty worth 4,390 crore, according to an investigation by the Directorate of Revenue Intelligence, according to the government. The Chinese smartphone manufacturer wrongfully used duty exemptions for items imported for use in mobile phone production, according to evidence uncovered by investigators. Oppo also allegedly made...
-
Textiles Minister Seeks Early Resolution On Cotton Import Duty Waiver
Union Minister Piyush Goyal has directed authorities to "finalise the matter early", as regards to the extension of cotton import duty waiver
-
Centre Allows Duty-Free Import Of Crude Soyabean, Sunflower Oil
The government on Tuesday exempted customs duty and agriculture infrastructure development cess on 20 lakh metric tonnes yearly import of crude soyabean and sunflower oil, to ease domestic prices.
-
DRI Busts Racket Of Importing Luxury Cars In The Name Of Diplomats Evading Duty Worth Rs. 25 Crore
The accused imported luxury cars in the name of diplomats but these would be then sold to private buyers, thereby evading 204 per cent of customs duty on vehicles, which has cost the exchequer about Rs. 25 crore in five years.
-
Budget 2021: Phones May Get Costlier as Exemptions Revoked, Analysts Say It's a 'Short-Term' Issue
In the Budget 2021 speech, Finance Minister Nirmala Sitharaman announced mobile phone parts like the Printed Circuit Board Assembly (PCBA), Camera Module, and Connectors will see a withdrawal of exemption from custom duty and a moderate 2.5 percent tax will be levied, instead of the ‘nil’ rate offered earlier. Similarly, parts and sub-parts for...
-
Centre Exempts Customs Duty, Cess On Ventilators, Masks, COVID-19 Test Kits
The government on Thursday removed customs duty and health cess on ventilators, face and surgical masks, personal protection equipment and COVID-19 test kits with a view to boost availability of these products in the country to fight coronavirus pandemic.
-
Pak Gives 23-Year Tax Exemption To Chinese Firm In Gwadar: Report
Pakistan has granted a 23-year income tax holiday, exemptions of sales tax and customs duties to the Chinese operators of the strategic Gwadar Port and its free zone as the two countries stepped up their efforts to build the China-Pakistan Economic Corridor, according to a media report on Wednesday.
-
Union Budget 2019: SIAM Welcomes Government's Cut On Import Duty For Electric Vehicle Components
The Society For Indian Automobile Manufacturers (SIAM) has welcomed the central government's move to lower the import duty on CKD and SKD of electric vehicle components. The notification issued by the government earlier this week stated that the parts and components for electric vehicles imported in the country will be lowered by 10 to 15 per cent....
-
Imported Mobile Phones May Cost More, Slapped With 10% Customs Duty
Inputs and raw material for manufacture of parts of specified electronics goods, including mobile phones will continue to be exempt from basic customs duty.
-
Reconsider Move To Remove Drugs From Duty Exemption: CPI(M)
CPI(M) today asked the Centre to reconsider its decision to remove over 70 drugs including life-saving ones used for treating cancer and HIV from customs duty exemption list, saying the move will make these more expensive resulting in "severe" hardships for patients.
-
Government Restores Customs Duty Exemption on 3 Drugs
Government had recently withdrawn duty exemptions on 74 drugs.
-
'Customs Duty on Life Saving Drugs to Help Domestic Firms'
The CBEC has recently withdrawn exemption on as many as 74 drugs.
