Countrywide raids are being conducted in connection with a money laundering case linked to a fertiliser scam.
The case goes back to 2014, where the diamond merchant had pleaded guilty, though indirectly, for mis-declaration of exports of diamonds.
A bench comprising Justice Arijit Pasayat and Justice S H Kapadia has asked the Customs Department to file an affidavit in this regard.
Importers will now have to provide sufficient proof to the domestic customs authorities that the goods being imported have a minimum 35 per cent value addition in the country from which it is being exported to India.
The Customs clearance required for moving equipment like laptops, desktops, etc out of SEZ units was delaying things as the clearance had to be taken in person after a first level of approval online.
The Service Tax Department has once again frozen the bank accounts of the national carrier Air India for non-payment of dues running into a little over Rs 300 crore (Rs 3 billion).
'During Amit Shah's recent visit to Kerala, the strategy of concentrating the attacks on the CM on false charges was clear enough.'
Officials say that such a list, to be updated on a real-time basis, will serve as a ready reckoner in identifying those committing multiple economic offences
In a major haul, 101 kg of heroin worth Rs 505 crore in the international market was seized on Monday during a search operation in Amritsar in a goods train that came from Pakistan.
According to a senior official of the Customs Department, the Finance Minister will hold review meeting on Service Tax Voluntary Compliance Encouragement Scheme.
On December 7, the Shenzhen court in China will deliver a judgment in the case of 22 Indians who were charged with smuggling of diamonds.
Pakistan has imposed a complete ban on the export of onion to India via Wagah-Attari land route, a development which may hit Indian government's efforts in rein in skyrocketing prices of bulb in the country.
The Central Board of Excise and Customs has put in place a comprehensive mechanism for verification and monitoring of exports made under various duty exemption or reward schemes.
Iqbal wanted to land the smuggled goods by helicopter on the Andaman Islands. DK asked, 'Iqbal, a helicopter will bring the consignment to the island, drop it there and then return. Won't radars detect it?' 'No.' 'How?' 'Radars can't detect aircraft that fly at a low altitude. Our helicopter, after entering India's air space, will dive and fly at four feet above the sea level.' 'For that, I have a German pilot in mind. He was an ace aviator in the last world war.' An enthralling excerpt from Aabid Surti's Sufi: The Invisible Man Of The Underground.
A woman from Pakistan has been arrested in Amritsar allegedly with fake Indian currency having face value of Rs 4.5 lakh, officials said on Friday.
Import of jewellery from Hong Kong attracts no duty in India, due to a free trade agreement.
According to an order issued by the Central Board of Direct Taxes, the department will share 'bulk information', starting from Permanent Account Number (PAN) to the taxpayer's name and all the individual data that it captures like father's name, gender, date of birth, photograph and signature or thumb impression.
Export from India through Attari-Wagah border fell by 17 per cent in value terms and 30 per cent in volume during April till November in the current fiscal, due to recessionary pressure.
Two entities under the Union ministry of commerce report differing figures for import of cut and polished diamonds for the first eight months of the financial year.
Anil Ambani Group company has offered a bank guarantee and indemnity bond for the aircraft, but the Customs officials have that said that it is not possible without the seizure notice.
A revamped Electronic Data Interface system and easier norms for the Accredited Clients Programme are some features likely to be introduced to reduce the transaction time and costs of exporters. Some of the measures may figure in the annual supplement to the Foreign Trade Policy, which is being released on Apr 11. ComMin officials expect the new Electronic Data Interface System to become operational by the end of this fiscal. Exporters will have to submit lesser documents.
Indian Oil Corporation's Raxaul depot resumed supplies after the obstruction by protesters was removed from the main 'Maitreyi' (Friendship) Bridge connecting the two countries.
The diamond studded crown of India's Srishti Rana, who has been crowned Miss Asia Pacific World 2013 in Busan, South Korea, was seized for not paying customs, a senior customs official said.
UK-based British Airways has been slapped a service tax notice by the Revenue Department asking it to pay the balance of Rs 143.5 crore (Rs 1.44 billion) liability on sale of tickets in India between May 2006 and November 2007.
Khyati Multimedia-Entertainment Ltd has informed BSE that the company has received an order worth Rs 700 million from Central Board of Excise and Customs Department.
The two Indians could face the death penalty if found guilty of possessing the drug.
Twenty-two Indian e-governance projects were declared winners of the Oracle Excellence in e-Governance awards at the Oracle Open World in Mumbai.
A packet containing 23 euros was addressed to the actress.
The National Assembly Standing Committee on Foreign Affairs on Monday issued a four-page policy paper linked to Kashmir.
The actress will let the legal department take its course.
This year, India bought 27.7% of the gold exported by Switzerland; in Jan, this was only 15%.
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