At 5% customs duty, the govt will earn more than $3 bn
Given the oversupply and weak domestic demand, the paper and paperboard players will be unable to pass on the entire increase in duties, and will see a further drop in their EBITDA margins.
Commerce and Industry Minister Piyush Goyal on Sunday said Indian goods will have a competitive advantage in US markets compared to products from China and other competitor countries, which face higher levies, following the reduction in reciprocal tariffs to 18 per cent.
After the last Budget's announcement of a major tax relief for those earning an annual salary of less than Rs 12 lakh, there is not much that individuals can look forward to in the forthcoming Budget, points out A K Bhattacharya.
The government should cut customs duties and streamline export promotion schemes and pay special attention to infrastructure to overcome the contracting exports on account of recession in India's major trading partners, the Economic Survey said.
India should accelerate the pace of reduction of customs duty rather than merely carry on building up the foreign exchange reserves, according to Montek Singh Ahluwalia, former finance secretary and one of the authors of India's economic reforms.
Impose safeguard duty on select paper varieties and hike customs duty
The steep hike in onion prices set alarm bells ringing in the government, which has imposed a ban on onion exports till January 15, 2011, to increase availability in the domestic market.
The domestic crude oil producers will benefit from levy of customs duty at 5% on crude oil, and effective tax incidence will come down due to weighted deduction on R & D as well as cut in the surcharge on corporate taxes for domestic companies
The Union Budget for 2026-27, presented by Finance Minister (FM) Nirmala Sitharaman on Sunday, which was a first, had an excellent domestic macro backdrop. According to the first advance estimates, gross domestic product (GDP) in constant prices is projected to grow 7.4 per cent in the current financial year, against 6.5 per cent in 2024-25.
The ferro alloy sector seeks hike in customs duty on entire range of ferro alloys to 10%, except retaining customs duty on ferro nickel at 5%, which is fully imported.
The govt has hiked customs duty for metallurgical coke.
The government will cut excise and customs duty on petrol, diesel, LPG and kerosene to contain the effect of spike in international crude oil prices, which touched an all-time high of $47 a barrel.
A retired school teacher in Kanpur was allegedly defrauded of Rs 1.57 crore (approximately 150,000) in a sophisticated cyber scam involving impersonations of Mark Zuckerberg and associates of Elon Musk.
Air India and Air India Express are introducing a fuel surcharge on domestic and international flights due to rising jet fuel prices, impacting travel costs for passengers.
Under an Executive Order issued by the US administration on July 30, 2025, goods valued above USD 100 will be subject to customs duties in America with effect from August 29 onwards.
Move could fetch the exchequer Rs 14,000 cr
The government may cut customs duty on petrol and diesel by 5 per cent each to avoid increasing prices that had been necessitated due to a spurt in international oil prices.
The Union government is likely to cut import duties on diesel, kerosene and cooking gas to cushion the impact of high international crude oil prices on the domestic market.
The Directorate of Revenue Intelligence has booked cases at Mumbai and Delhi against private airlines Jet Airways and Air Sahara for non-payment of customs duty, the Lok Sabha was informed on Friday.
The turning point came with the appointment of Sergio Gor as the US ambassador to India.
The government may tweak customs duties in the Budget next week on several goods, including furniture raw materials, copper scrap, certain chemicals, telecom equipment and rubber products, to promote domestic manufacturing and exports, sources said. They said that while import duties could be tweaked on over 20 products such as cut and polished diamonds, rubber goods, leather garments, telecom equipment and carpet, the customs duties could be removed on select raw materials (like wood in rough, swan wood and hard board) used for furniture manufacturing and copper concentrate.
The Central Board of Excise and Customs, through a notification on February 12, has slashed the duty on both the variants of motorcycles imported as completely build units (CBU) to 50 per cent.
Even as the government's move to hike import duties on 45 items is seen as a sign of protectionism, the prime minister was himself involved in the process.
India has completely protected the interests of its agriculture and dairy sector in the India-US trade agreement.
Buckling under pressure from various quarters, the government on Monday withdrew the harsh provisions relating to excise and customs duty evasion cases. In Finance Bill 2012-13, it had earlier proposed to make certain excise and customs duty evasion cases non-bailable until the court had heard the public prosecutor.
In a moved aimed at bringing inflation under control, the government cut customs duty on 11 product categories, including portland cement, capital goods, project imports and raw materials, late Monday night.
India's indigenous paper manufacturers are forced to use a variety of raw materials.
Budget 2026 sticks to fiscal discipline, shuns populist measures despite five key state elections coming up, but ends up rattling stock markets with a higher transaction tax on derivatives trading.
As domestic metal prices will rise faster than global prices if customs duty on metals is hiked, the capital goods sector seeks retaining them at current levels.
Of the donations, 48% is in kind -- such as food, clothing, or other household goods -- followed by cash (44%) and volunteering (30%) with non-profits, religious institutions, or community groups.
India will now face a lower reciprocal tariff of 10 per cent, down from 25 per cent, after US President Donald Trump announced a new global levy on items imported into America in the wake of the Supreme Court verdict against his sweeping duties on several nations.
The government on Sunday gave a strong push to upgradation and expansion of healthcare infrastructure, medical education and pharma sector with the Union Budget 2026-27 announcing a slew of steps, including those aimed at making India a global hub for allied healthcare professionals and biopharma manufacturing.
Delhi Police have implemented heightened security measures in Dwarka, including Uttam Nagar, ahead of Eid-ul-Fitr, following communal tensions sparked by a recent incident. The Delhi High Court has directed the police to ensure a peaceful environment for the festival.
On the 95th anniversary of Bhagat Singh's martyrdom, Utkarsh Mishra revisits the ideas and philosophy of the revolutionary giant.
It is difficult to make conveyor belt and baggage-scanning scenes thrilling -- which is how most people trying to sneak out through the Green Channel are caught -- but Neeraj Pandey and co-director Raghav M Jairath and co-writer Vipul K Rawal make sure there is enough going on to make the series watchable, raves Deepa Gahlot.
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