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Customs Duty

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Gold imports hit 13-year low

The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.  With the government giving a push to digital transactions......

Litigation that brings a bad name to country

 Owner of brand name to pay sales tax; Insurance company can't change stand; Customs duty outside octroi net; Award on music rights set aside; Confidentiality clause can't restrict trade. Some......

Non ferrous metals: Import duties on aluminum, zinc raised

Budget Provisions Import duty up on Aluminium Custom duty on primary aluminium increased from 5% to 7.5% while Basic Customs Duty on Other aluminium products increased from 7.5% to 10%. Increase......

Budget focuses on Modi's key initiatives

Customs and excise duty rates have been amended mainly to promote Make in India.  Image: Make in India gets a boost. Photograph: Rajesh Karkera/Rediff.com     INDIRECT TAXES While......

Budget: Small taxpayers are big gainers

Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.    In a major step towards tax simplification,......
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Footwear, biodiesel to be assigned GST rates on June 3

Apart from gold, textile and beedi, GST Council on its June 3 meeting will set rates for footwear, agriculture implements and biodiesel. Gold... ...

http://www.deccanherald.com/content/613459/footwear-biodiesel-assigned-gst-rates.html
5 held for smuggling mobile phones, accessories worth crores

The Central Intelligence Unit of the Air cargo complex has arrested five persons, for allegedly smuggling mobile phones and accessories worth... ...

http://www.business-standard.com/article/pti-stories/5-held-for-smuggling-mobile-phones-accessories-worth-crores-117052500026_1.html
Airlines collected UK airport tax despite exemption, claim travel agents

(with box/chart - see below)Teenagers may have paid a higher price for air travel from the UK for over a year as airlines did not inform agents of... ...

http://www.business-standard.com/article/companies/airlines-collected-uk-airport-tax-despite-exemption-claim-travel-agents-117052301288_1.html
Ecuador expresses interest in negotiating PTA with India

South American country Ecuador has expressed interest in negotiating a trade agreement with India to further boost commercial ties between the two... ...

http://www.business-standard.com/article/pti-stories/ecuador-expresses-interest-in-negotiating-pta-with-india-117052300566_1.html
Aircraft lease costs to rise on 5% GST levy

At present cross border aircraft leases don't suffer customs duty, central excise and VAT ...

http://www.business-standard.com/article/economy-policy/aircraft-lease-costs-to-rise-on-5-gst-levy-117052100616_1.html

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