Incidents in his life that Sachin Tendulkar would rather forget.
The high tax regime makes aircraft service above 50 per cent more expensive than international rates and might spell trouble for over a dozen MRO projects -- several of them involving foreign direct investment that have been announced so far.
The Union Budget 2011-12 was a low key affair for the Telecom sector. The Budget did not mention extension of fiscal benefits under the Sec 80IA from 5 years to 10 years.
Issues raised by the industry, like rationalisation of the eight per cent central excise on jet fuel, still remain to be addressed. As a result of the government abolishing five per cent customs duty on aviation turbine fuel from Tuesday, state-run oil firms have cut jet fuel prices by Rs 2,100 per kilo litre, on top of the 17 per cent price reduction announced late last week.
A Dubai trip plus Apple iPhone 12 is cheaper than buying the phone in India. Various models of the iPhone 12 Pro and Max are cheaper in Dubai by up to Rs 35,000 owing to higher GST, Customs duty in India.
Lata Ramgobin, who is the daughter of noted rights activists Ela Gandhi and late Mewa Ramgobind, was also refused leave to appeal both the conviction and the sentence by the Durban Specialised Commercial Crime Court.
The new mantra was to align Apple's ambition with the government's, focusing on Modi's favourite themes of Make in India, employment generation and India as a high-tech export hub.
From road transport to health insurance, tax rules have changed from October 1.
It was one of the toughest times in history to announce a budget, says Harsh Goenka, chairman of RPG Enterprises.
Indirect tax collections saw only a meagre 3.5 per cent growth, as mop-up from Customs fell sharply on account of a drop in imports.
Admitting that rising prices of essential commodities like pulses and edible oils have affected the common people, government said on Friday that measures already initiated will be intensified to ease the situation.
The other two components of indirect tax collections -- excise and customs duties -- were already in negative territory since October 2008. In particular, excise -- a levy on factory production levied at the gates - has started declining from September.
India's biggest carmaker Maruti Udyog Ltd on Thursday launched a variant of premium mid-size sedan Baleno and announced a price cut on its existing versions.
In 2007, India slashed the additional customs duty it charged on imported (which were up to 150 per cent of value of imports depending on the spirits), but simultaneously hiked the basic customs duties to 150 per cent from 100 per cent.
Sectors throw up a wishlist for the Finance Minister.
As a measure to pre-empt dumping from China, the government has slapped restrictions on imports of specific steel items used widely in the automobile, oil and construction industries.
With the scope of expanding excise and customs duties getting increasingly limited, the government would turn to service tax for widening the tax base, mop up from which is expected to fetch over Rs 10,000 crore by 2005.
Though a range of essential items still continue to be expensive, the rate of price rise has been falling for some time now.
The country's exports grew 5.37 per cent year-on-year to $27.24 billion in January 2021, mainly driven by healthy growth in pharma and engineering sectors, according to provisional data of the commerce ministry. Trade deficit during the month narrowed to $14.75 billion from $15.3 billion in January 2020. It was $15.44 billion in December 2020. Imports in January 2021 rose 2 per cent to $42 billion.
Import duty on PVC, at 7.5%, is far lower than that prevailing in comparable economies.
'We failed as a country because those who should have been there to say goodbye did not show up.'
A 'green' tax aimed at discouraging high consumption of petroleum products may be in the offing, a government official said on Wednesday. The tax, perhaps in the form of a cess on consumption, would also check vehicular pollution to some extent and also help in controlling the high oil subsidy burden.With no sign of moderation in demand for petroleum products, government officials feel that a 'green' tax should be levied on automobiles, on the lines of similar taxes in UK.
The bandh 'business' in Bengal is growing daily because it is the easiest way for the party to get free publicity without any capital investment.
In 2020 a round of hikes in customs duty on components like compressors, motors and printed circuit boards aggravated the situation, coronavirus crisis is now leaving manufacturers with no option but to hike prices despite fall in sales.
American cult bike maker Harley Davidson, which last week criticised the 'daunting trade barriers' imposed by India, said on Tuesday it was still keen on entering the country but wanted some tax concessions.
Insurance company will bear the cost of digitising. It will in turn benefit from lower expenses on servicing policies.
The proposed bullion bank can help settle gold loan accounts in gold terms, and promote existing gold schemes, along with launching schemes including gold-recurring deposits.
Apple sought exemption from mandatory local sourcing of components for its products
Re-instatement of 5% custom duty on crude imports will help.
India's exports to the US in 2017-18 stood at $47.9 billion, while imports were $26.7 billion. The trade balance is in favour of India.
The government on Thursday banned exports of non-basmati white rice to boost domestic supply and keep retail prices under check during the upcoming festive season. There would be no change in export policy of par-boiled non-basmati rice and basmati rice, which forms the bulk of exports, the food ministry said in a statement. Non-basmati white rice constitutes about 25 per cent of total rice exported from the country.
Economic offender Narendra Kumar Rastogi was on Friday extradited from the United States to India to face charges in a custom duty evasion case to the tune of Rs 54 crore for exporting scrap to various countries.
The Supreme Court has dismissed the appeal of ACC Cement, ruling that if a product is manufactured by one firm and sold by another with the latter's brand name, that sale would attract sales tax, not the first transaction.
All competitors who shoot the Minimum Qualification Score at the National Shooting Championship competitions will be exempted from customs duty on import of equipments.
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