The Central Board of Indirect Taxes and Customs (CBIC) has enabled UPI, debit, and credit card payments for Customs duty on the ICEGATE portal, enhancing ease of doing business for importers and exporters.
The Central Board of Indirect Taxes and Customs (CBIC) announced the implementation of the Eligible Manufacturer Importers (EMI) scheme from April 1, allowing eligible importers to defer customs duty payments.
InterGlobe Aviation, the operator of IndiGo, has approached the Delhi high court seeking a refund of over Rs 900 crore it claims to have paid as Customs duty on aircraft engines and parts re-imported into India after overseas repairs. The petition came up for hearing on Friday before a bench of Justices Prathiba M Singh and Shail Jain.
The government proposes to cut custom duties on Trastuzumab Deruxtecan, Osimertinib and Durvalumab from 10 per cent to nil.
The United States has announced a preliminary countervailing duty of 125.87 per cent on imports of certain Indian solar goods, alleging unfair subsidisation. This move could impact India's renewable energy sector and its efforts to boost domestic solar manufacturing.
The Swadeshi Jagran Manch (SJM) is advocating for the termination of the moratorium on customs duties for electronically transmitted digital products, arguing that it hinders self-reliance, causes revenue losses, and restricts India's ability to tax emerging technologies like AI.
Indian Customs officials have arrested five individuals from West Bengal and Assam for their involvement in smuggling high-end used cars from Bhutan. The investigation revealed a widespread network of forged documents and illegal vehicle registrations.
Customs duty cannot be levied on electricity supplied from a special economic zone (SEZ) to the domestic market, ruled the Supreme Court on Monday while upholding Adani Power's appeal against a 2019 judgment of the Gujarat high court. The 2019 judgment had denied relief to Adani Power from Customs duty on electricity supplied from its Mundra SEZ unit to the domestic tariff area (DTA).
Sitharaman in her budget speech said that the customs proposal "aim to further simplify the tariff structure, support domestic manufacturing, promote export competitiveness, and correct inversion in duty".
German carmaker Audi plans to reassess and adjust its product launch strategy in India once the specific details of import duty reductions under the India-EU free trade agreement (FTA) become clear, according to Balbir Singh Dhillon, the brand's director in India.
Customs officials at Delhi's Indira Gandhi International Airport have thwarted two separate gold smuggling attempts, seizing over 3.17 kg of gold worth approximately Rs 4.35 crore and arresting three foreign nationals.
The proposed exemption in customs duty on import of lithium, cobalt and other rare minerals in the Union Budget 2024-25 is likely to lower the battery production cost and help in making electric vehicles more affordable for the buyers, auto industry leaders said on Tuesday.
As many as 17 cancer drugs, along with medicines and food for special medical needs for seven rare diseases, components for microwave ovens are some of the items that are set to become cheaper with Finance Minister Nirmala Sitharaman announcing cuts in customs duty in the Union Budget 2026-27.
Total pending Customs arrears, including amounts under litigation, court stays and cases where the appeal period has not expired, stood at about Rs 1.36 trillion at the end of December 2024.
The steep cut in Customs duty on silver in the FY25 Budget to 6 per cent from 15 per cent may provide the government temporary relief by checking the spurt in silver imports from the United Arab Emirates (UAE) under the Comprehensive Economic Partnership Agreement (CEPA). In FY24, silver imports from the UAE jumped to $1.7 billion from only $11.18 million in FY23, according to commerce department data. In May, about 87 per cent of India's silver imports came from Dubai.
For patients, the immediate impact is a reduction in the final cost of therapies that often run into lakhs per month.
The government has announced Customs duty exemptions for the newspaper and magazine publishing industry, which has been hit by the current economic slowdown.
Customs regimes can lead to labyrinthine legal disputes. Budget 2026 must recognise that an excessively defensive Customs posture can itself become a trade barrier, point out Mukesh Butani and Shankey Agrawal.
There is nothing specific announced for Chemicals Industry, however, reduction in customs duty
This will boost availability of these items as well as make them cheaper, it said, adding that Modi also directed the revenue department to ensure seamless and quick custom clearance of such equipment.
"Customs duty collection is likely to cross the budgetary estimate this year despite lowering of the peak rate. Barring external factors... economy will continue to grow at a high rate and manufacturing at a brisk rate," the finance minister said.
The Indian Coast Guard intercepted three vessels involved in an international oil smuggling syndicate operating in international waters near Mumbai, uncovering a sophisticated operation that evaded customs duties.
FM announced no change in peak rate of customs duty for non-agriculture imports.
Remove anomaly of higher customs duty on inputs by cutting the customs duty on natural rubber, other inputs and on tyre manufacturing machinery and / or hike in customs duty on tyres.
The Union government's budget proposals next month would see a "substantial reduction" in customs duties, commerce secretary S N Menon said on Tuesday.
Basic Customs Duty is being reduced to 2.5 per cent for the equipments required for setting up or substantial expansion of iron ore pellet plants & iron ore beneficiation plants.
While the country is liaising with other countries through free trade agreements, the Indian manufacturing industry is gradually losing its grip over the domestic market due to inverted Customs duty structure, a Ficci survey has said.
Include Crude Oil, Natural Gas and petroleum products under GST.
Industry demands the basic customs duty on all steel imports to be raised to 25%
Finance Minister P Chidambaram on Thursday said customs duty cut on a number of items has been advanced, including edible oils, to curb high inflation.
The State Consumer Disputes Redressal Commission has directed Bank of India to compensate a senior citizen for losses incurred due to unauthorized ATM transactions, citing deficiency in service and failure to adhere to security protocols.
Speculation about rising competition from global majors has led to shares of major Indian automobile manufacturers such as Mahindra & Mahindra (M&M), Maruti Suzuki India, and Tata Motors taking a hit on the BSE.
The proposals outlined in Budget 2026-27 represent a carefully crafted, multi-year strategy designed to strengthen India's big bets on the path to Viksit Bharat 2047, says Sameer Gupta.
In 2025-26, the government allocated Rs 6,81,210 crore for defence budget.
Vijay Kelkar, advisor to the finance minister, on Friday submitted the final reports on direct and indirect taxes to Finance Minister Jaswant Singh.
Finance Minister Nirmala Sitharaman launched a strong attack on Rahul Gandhi and the Congress party, accusing them of compromising India's interests on the world stage and selling out farmers and the poor during their time in power.
The apex body for liquor firms Confederation of Indian Alcoholic Beverage Companies has urged the government to gradually reduce customs duties on British alcoholic beverages under the proposed India-UK free trade agreement to support domestic players. India and the UK have formally launched negotiations for an FTA, under which duties would be reduced or eliminated on several goods traded between the two countries. The Confederation of Indian Alcoholic Beverage Companies (CIABC) has also suggested the government to ensure that the UK allows the selling of domestic whiskies as 'Indian Whisky', irrespective of whether they are made from malt, grain spirits or molasses-based spirits.
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