To promote localisation of manufacturing and reduce its import bill, the government increased basic customs duty on mobile handsets - from 10 per cent to 15 per cent.
India has been the single biggest beneficiary of the decades-old US Generalized System of Preferences programme, allowing the country to export $ 5.7 billion worth of duty-free goods in 2017, according to figures from US Congress.
A day after the finance ministry cut import duties on a variety of product categories, top manufacturers of zinc -- Hindustan Zinc and Binani Zinc -- slashed prices.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
For last fortnight, the tariff value of gold was fixed at $382 per 10 grams and silver at $516 per kg.
'More a show that you are doing something in the Budget even if that something never actually comes to pass,' notes Nitin Desai.
"We want to see it just stop. We are very much involved in that (process)," Trump told reporters at the Oval Office.
Imported liquor is all set to become cheaper with the government likely to bring in a Bill in Parliament next month to scrap additional customs duty on wines and spirits
Finance Minister P Chidambaram on Monday exempted scented supari from excise duty if it does not exceed 50 paise a packet.
With the prices touching a two-year high, CEOs of leading companies expect a cut in corporate tax and measures to boost the capital markets in the Budget 2007-08 to be presented on February 28.
Government on Friday hiked the import tariff value on gold and silver to $433 per 10 grams and $699 per kg, respectively, taking into account the volatility in the precious metals' global prices.
Raheja, who was returning from London, was arrested on Wednesday night at the Mumbai International airport for evading payment of customs duty.
Assume that the rupee will trend lower over the next 10 years as India increases overseas sovereign exposures, and your long-term asset allocation should be geared to deal with this trend, suggests Devangshu Datta
Import duty on diamonds may be scrapped
Sri Lanka has slashed tariffs by up to 70 per cent on India goods such as cement, petroleum products and motorcycles under a bilateral trade deal.
but it had a mixed view on the new tax proposals burdening the capital market.
The government collected over 40 per cent more revenue from taxes at Rs 44,463 crore (Rs 444.63 billion) during the first quarter of this fiscal against Rs 31,668 during the corresponding period of 2005-06.
The chances of the posts opening remain slim, with security agencies recently identifying 10 suspects who smuggled in weapons, narcotics and fake currency.
The issues around trade gaps, especially around steel and aluminium tariffs imposed by the US, will be addressed separately.
A sum of Rs 7060 crore is provided in the current fiscal for the project of developing one hundred Smart Cities.
Higher disposable incomes, rural push and infra push to boost auto sector
Computers, mobile phones, tractors and gas stoves will become cheaper with the lowering of duties proposed in the Union Budget 2004-05 while imitation jewellery, steel, cakes and pastries and scented supari will become costlier.
The DRI sleuths seized the vehicle of businessman Chandan Basu during an ongoing probe into a racket of importing cars by evading custom duty upto 105 per cent
Imposing yet another restriction, the European Union has demanded mandatory certification from Indian authorities for every imported Basmati consignment as belonging to specific strains of traditional varieties to be eligible for customs duty concess
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