The 2-3 per cent reduction on the ex-showroom prices would be effective from Sunday, a company release said.
Apple Inc has announced the India prices of the new variants of its bestselling smartphones - launched on Tuesday - as it assembles the device in the country. The new iPhone 15 range starts at Rs 79,900 for the 128 GB variant (the same price as the iPhone 14 when it was launched last year) and goes up to Rs 199,900 for the top-end Pro Max with a 6.7 inch screen and 1 TB (terabyte) storage. The world's most valuable company also launched three new upgraded Apple watches, starting with the SE at Rs 29,900 and going up to Ultra 2 at Rs 89,900.
Amazon plans to bring in its cheapest e-book reader maybe by the next year
The customer who is a law student tried to film a video showing a cockroach inside a refrigerator when he was slapped.
Steps such as safeguard duty in the works to plug the route
The proposals under consideration include waiving the current 5 per cent Customs duty on naphtha and reducing the excise duty on mono ethyl glycol from 8 per cent to 4 per cent. The Cabinet secretariat has sought views from various ministries and departments for this package.
Union Minister Nitin Gadkari on Tuesday said if the US-based Tesla is ready to manufacture its electric vehicles in India then there is 'no problem' but the company must not import cars from China. In an interactive session at the Raisina Dialogue, Gadkari further said India is a large market and there is a huge potential for all electric vehicles. "If Elon Musk (Tesla CEO) is ready to manufacture in India then there is no problem ... Come to India, start manufacturing, India is a large market they can export from India," he said. The road transport and highways minister said his request to Musk is to come and manufacture in India.
Increase in first half of FY14 comes despite a fall in average crude prices; weak rupee helps.
'We have essentially tried to set out an agenda for the next five years and it, in essence, represents the political commitment to that agenda.'
As per practice a vote-on-account or approval for essential government spending for a limited period is taken in the election year and a full-fledged budget presented by the new government.
The department of revenue in a notification on Wednesday said anti-dumping duty is being imposed for six months on the import of wire road of alloy or non-alloy steel from China.
Sources said GST exemption on such items would lead to blocked input tax credit, thereby increasing the cost of manufacturing and a higher price for consumers.
India is the UK's second-largest market by volumes for Scotch, importing the equivalent of 136 million bottles, worth £146.2 million, in 2021.
The government on Friday slashed the import tariff value on gold to $398 per ten grams while raising it marginally on silver to $643 per kg in line with global trends.
The threshold limit for deduction of tax at source has been raised for unusual income such as winnings from horse race, commission
Association of Biotechnology Led Enterprises said customs duty at 12.5 per cent, excise/countervailing duty at 16.32 per cent, education cess at two per cent and additional duty on customs at four per cent result in 36.74 per cent increase in the price of cancer drugs, leading to cost to the patient going up.
Do you think Rs 25,000 worth of duty-free goods is a reasonable limit imposed upon air travellers by the Indian Government?
According to industry sources, domestic toy manufacturers are seeing a sharp rise in sales during the current financial year. On January 1, 2021, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). This meant that all factories churning out toys to be sold in India had to be certified by the bureau along with mandatory product testing, including for units abroad.
Mobile handsets could be marginally cheaper with the Finance Minister today announcing tax exemptions for chargers, batteries and accessories.
Major edible oil companies, including Adani Wilmar and Ruchi Soya, have reduced the maximum retail price (MRP) of their products by 10-15 per cent to provide relief to consumers, industry body SEA said on Monday. The prices have been reduced by Adani Wilmar (on Fortune brands), Ruchi Soya (Mahakosh, Sunrich, Ruchi Gold and Nutrella brands), Emami (Healthy & Tasty brands), Bunge (Dalda, Gagan, Chambal brands) and Gemini (Freedom sunflower oil brands), it said. OFCO (Nutrilive brands), Frigorifico Allana (Sunny brands), Gokul Agro (Vitalife, Mahek and Zaika brands) and others have also reduced prices, it added.
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
Following the Reserve Bank easing he 20:80 gold import norms, India Bullion & Jewellers Association (IBJA) said gold prices are likely to fall to Rs 23,000-24,000 per 10 grams by Diwali.
On the flipside, since 60-70 per cent of the costs pertain to raw material, which are mostly imported, currency fluctuation is a key risk for the segment.
Excise duty on petrol will remain at Rs 14.35 a litre and diesel at Rs 4.60 per litre.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
The government has sacked these officers ranging from the ranks of principal commissioner to assistant commissioner, some of whom were already under suspension.
The rising goods and services tax (GST) and personal income-tax collections may bolster the Narendra Modi government's ability to announce new schemes or enhance existing ones.
Tata Motors owned Jaguar Land Rover will start producing its Range Rover and Range Rover Sport in India, marking a first for the iconic models in their 54-year long history, to be rolled out from a country outside of the UK. Till now the two models were only produced in Jaguar Land Rover's Solihull plant in the UK and then exported to around 121 markets globally, including India.
Almost 40 per cent of a durable company's sales are achieved during the festival season
Of the 11,000 kg imported between July 1 and August 9, around 90 per cent was brought in by two business groups which took advantage of the favourable reduction in tax incidence under GST, routing their imports through Korea.
Ram Buxani said increase in the customs duty on gold will help Dubai's business.
The industry is estimated to have incurred a loss of Rs 10,000 crore (Rs 100 billion).
Net direct tax collection in the April-June quarter of the current fiscal rose by 41 per cent to Rs 3,54,569.74 crore, Minister of State for Finance Pankaj Chaudhary informed the Lok Sabha. During the April-June period of 2021-22, the government had collected a net direct tax of Rs 2,50,881.08 crore. At the same time, net indirect tax collection including Goods and Services Tax (GST) and custom duty increased by 9.4 per cent to Rs 3,44,056 crore as against Rs 3,14,476 crore in the first quarter of the previous fiscal, he said in a written reply.
Petrol and diesel prices will go up by Rs 2.67 a litre and Rs 2.58 per litre, respectively, after Finance Minister Pranab Mukherjee on Friday raised customs and excise duties on the two, virtually putting the Kirit Parikh Committee report on fuel price in cold storage.
Over 300 associations, that consists of over 3 lakh manufacturers, retailers, wholesalers and artisans among others, are participating the nationwide stir.
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
Tax incentives to have cascading effect on the capital goods industry.
