The growth of exports to India stood out, with value up 28 per cent to 43 million pounds
Tax auditors plan to down tools every Tuesday and Thursday until the government issues a decree to raise their wages.
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.
These offer great scope and flexibility when you fall upon hard times, says Harjot Singh Narula
Budget proposal increased Customs duty on imported vehicles.
Custom duties, a major concern for the oil sector.
Four per cent countervailing customs duty on components for mobile phone manufacturing exempted.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
The 2013-14 Budget continues to focus on growth in predominantly primary sectors like agriculture, infrastructure and education. This growth will in turn support the growth in other sectors including the automobile industry.
The import tariff value is the base price at which the customs duty is determined to prevent under-invoicing.
After the government backtracked on its plan to impose Customs duty on pricier components, Samsung has decided to begin production of key mobile parts in Noida from April.
Tata Steel was the top gainer in the Sensex pack, zooming 7.57 per cent, followed by Sun Pharma, IndusInd Bank, L&T, ITC and HCL Tech.
The government may provide for targeted fiscal incentives and allocation of funds for promotion of green hydrogen in the country in Union Budget 2022-23, which is slated to be unveiled in Parliament on Tuesday. The government launched National Hydrogen Mission in 2021. Earlier this month, Power and New & Renewable Energy Minister R K Singh had indicated that a green hydrogen policy will be unveiled in February which would feature many incentives to boost green hydrogen in the country. "While 2021 saw the launch of National Hydrogen Mission, it is likely that the Budget may provide for targeted fiscal incentives for R&D in green hydrogen segment, creation of domestic supply chain for hydrogen and reduce customs duties on electrolysers to boost green hydrogen production," says Venkatesh Raman Prasad, Partner, J Sagar Associates (JSA).
The excise authorities of some states are playing spoilsport by subjecting imported beverages to the same levies as the domestic drop without application of mind.
To address the supply crunch, CII has suggested leveraging the existing excess capacity in the Indian industry; rolling back import duty hike to look for alternative sources of imports; expanding credit to manufacturing units with quick loan sanctions, and one-time emergency waiver of non-performing asset regulations for three months.
Misbah-ul-Haq's misfortunes with the Federal Board of Revenue and Taxation continued when his SUV vehicle was confiscated by authorities for non payment of taxes and duty.
The delivery of Freedom251 smartphones is expected to start in April after which the company will start the second round of bookings.
With 15% customs duty hike on locally assembled vehicles, it is cheaper to import from Thailand, says India MD
On October 31, the government exempted jet fuel from 5 per cent import duty. Indian Oil, Bharat Petroleum and Hindustan Petroleum cut jet fuel or aviation turbine fuel price from November 1 in Delhi by Rs 9,429.87 per kl to Rs 47,017.93 per kl, in line with fall in international oil prices.
Ministry wants to abolish 2.5 per cent customer duty on petrol and diesel.
The sources further said that the government has implemented a series of interventions in the past four months to provide relief to the sugarcane farmers and to ensure clearance of their dues.
. Going forward, if the government interference continues, oil-marketing companies will be at a disadvantage. \n\n
The proposed India-Israel trade pact should be beneficial to both nations and until New Delhi gets a good deal, it would not do an agreement, Commerce and Industry Minister Piyush Goyal said. India and Israel are negotiating a free trade agreement (FTA) since May 2010. "With Israel, until we get a good deal, we will not do an FTA. It has to be reciprocally beneficial," the minister said in San Francisco on Tuesday while interacting with the Indian community.
India slashes sensitive list for LDCs under SAFTA.
Gold prices are struggling and are down 18 per cent from their March highs. But stock prices have fallen even more. As a result, the precious metal has begun to outperform equities - both in the domestic market and international markets. Gold prices are up 2.6 per cent in the domestic market in the current calendar year (CY22) so far, according to the World Gold Council (WGC), compared to a 1.7 per cent decline in the Sensex year-to-date (YTD).
A prominent businessman from Mumbai on Friday revealed that he has acquired 29 items of Mahatma Gandhi memorabilia at a recent auction in the United Kingdom. "I am delighted to acquire the items, which are of national interest. I would have been happier had the government acquired them," said Kamal Morarka, former Union minister and publisher.
Increase in tax exemption limit by Rs 50000 is positive for the FMCG sector, as it will leave more discretionary income in the hands of consumers.
SII's CEO Adar Poonawalla took to Twitter to announce the "philanthropic" gesture.
Before signing an offer letter, you should be well aware of your designation with the duties and responsibilities assigned to you, advises Varun Sachdeva.
The Comprehensive Economic Partnership Agreement between India and Japan, negotiations for which concluded on Monday, necessitates the abolition of customs duties on 94 per cent of trade between the two nations over the next decade.
Sri Lankan government on Monday admitted that it has run out of cash to buy fuel as pumps in most filling stations across the country have run dry, exacerbating the deepening foreign-exchange crisis that has crippled the island nation's economy.
The import tariff value is the base price at which the customs duty is determined.
While the tax-to-GDP ratio of 9.88 per cent has been assumed for FY21, the same as last year, when it touched a decadal low, for FY22 a ratio of 10.7 per cent has been assumed, an average of the last five years.
'We failed as a country because those who should have been there to say goodbye did not show up.'
The banks used for the fraud include ING Vysya Bank, ICICI Bank, Kotak Mahindra Bank, Axis Bank, IndusInd Bank, Dhanlaxmi Bank, YES Bank and DCB Bank.
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