Regional States will be worried that the US's nascent engagement with the Taliban behind the fig leaf of humanitarian aid enables the return of US intelligence personnel to Afghanistan, observes Ambassador M K Bhadrakumar.
The government has slapped a tax notice of Rs 1,450 crore on the computer-maker Hewlett Packard India for allegedly evading Customs duty, a charge which was refuted by the company.
Lamborghini, which expects 60% growth this year has priced Huracan Evo at Rs 3.73 crore, also said in the next five years India will be one of the top 15 markets for the company.
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.
Sputnik V is the third vaccine India has given the go-ahead to after 'Covishield', developed by Oxford University and AstraZeneca and 'Covaxin', the indigenous vaccine manufactured by Bharat Biotech. Covishield is manufactured by the Serum Institute of India.
In a virtual mini-Budget ahead of a possible vote-on-account and early Lok Sabha elections, the government on Thursday slashed customs duties on various non-agricultural goods
The Customs tariff is much too complicated with basic Customs duty, two types of additional Customs duty and two types of cess.
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.
Finance Minister Nirmala Sitharaman on Friday hiked tax on petrol and diesel, raised import duty on gold, levied additional surcharge on super rich and brought a tax on high value cash withdrawals as she sought to spur growth with reduction in corporate tax and sops to housing sector, startups and electric vehicles.
Select life saving drugs, LCD TVs, mobile phones, branded jewellery, sports and leather products, packaged software and footwear are among items that would cost less, while gold bars and coins, silver, set-top boxes and cosmetic surgery would turn costlier after the Budget.
The government on Monday reduced basic customs duty on influenza vaccine and nine other specified life-saving drugs used for treating breast cancer, hepatitis-B, rheumatic arthritis, etc.
Seeks removal of custom duty on commodity polymers and cut in others, but also seeks hike in customs duty on plastic products
Pharma body wants all excisable goods used for R&D purposes should be exempted from central excise duty.
The government is looking to plug loopholes in the Indian customs law provision that allows tax exemptions for gifts up to Rs 5,000 and trade samples up to Rs 10,000 sent to India from abroad.
Had Finance Minister Sitharaman thought a little more about the middle class, disadvantaged sections, and the poor who are struggling, it would have been an inclusive Budget that would have made history, notes Ramesh Menon.
The customs duty from gold imports could be approximately Rs 8,000 crore, about less than half of what was collected a year ago.
Sources had said in a meeting last month, the empowered group of ministers on food, headed by finance Minister Pranab Mukherjee, had recommended that the import duty on rice be scrapped.
Excise duty cut of Rs 6,000 on big cars to be passed to customers; LCDs cheaper by Rs 3,500.
Prices of thin flat screen televisions and monitors will come down as the government on Monday lowered the basic customs duty on LCD panels used in manufacturing of such electronic goods to five per cent from 10 per cent.
ICRIER has suggested that the government hasten tax reforms by lowering peak customs duties to ensure export competitiveness of domestic industry.
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.
Consumer durables firms on Monday hailed Finance Ministry's proposal to reduce customs duty on flat panels to five per cent from 10 per cent, saying that the move will reduce LCD TV prices and boost demand.
'A total overall of the existing way of working by abolishing taxes and allowing citizens to help themselves without any government bottlenecks and impediments,' observes Rahul Mishra.
Santosh Kamath, partner (infrastructure and government services), KPMG in India, expects an extension of a tax holiday for the sector.
It was not immediately clear as to how many days he will stay in Pakistan.
Expect a more modest out-turn of around 5 per cent (if not less) because of the longer-term scarring effects of the Covid shock, the sharply slowing growth in the pre-Covid years and some scepticism about the growth-efficacy of some of recent official policy initiatives, explains Shankar Acharya, former chief economic advisor to the government.
In 2015, India chemicals industry had a market size of $144 billion.
Citing unviable duty structure on key components like flat panels and open cell parts, Samsung had shuttered its TV assembly lines in Tamil Nadu in 2018.
Though the exact size of the evasion is yet to be firmed up, initial estimates indicate that the duty evasion, along with penalty and fine, could be over Rs 1,000 crore
It is a Budget with a strong emphasis on agriculture, education, healthcare and infrastructure.
Union budget was mildly for cable broadcasting industry and DTH.
The Goods and Services Tax (GST) Council, chaired by Union Finance Minister Nirmala Sitharaman, will likely consider on Saturday a GST rate cut for Covid-19 relief essentials and drugs for treating the black fungus disease and might leave the vaccines untouched. The meeting is being held following a report submitted by a Group of Ministers (GoM) to the GST Council on Monday. The GoM, set up by the Council on May 28, was mandated to look at tax exemption and concessions on various Covid items including vaccines, drugs, and equipment.
Urban markets account for the major share of total revenues.
Unlike the finance ministry which takes a larger view, the commerce ministry only looks at exporters' interests.
The growth of exports to India stood out, with value up 28 per cent to 43 million pounds
The delivery of the Tejas Light Combat Aircraft (LCA) to the Indian Air Force under a Rs 48,000-crore deal will begin from March 2024 and around 16 aircraft will be rolled out annually till the completion of the total supply of 83 jets, Chairman and Managing Director of Hindustan Aeronautics Limited R Madhavan said on Sunday.
Mandatory hallmarking of gold would be a positive in making the gold market more organised. Mandatory hallmarking would come into effect from January 15, 2020, with a one-year transition period for trade to sell existing inventories. Experts also expect more policy measures next year to bring in more transparency in terms of gold as an asset class.
Finance Minister Arun Jaitley takes a protectionist stance in favour of domestic companies, increases customs duty on certain products.
Lok Sabha passed the Finance Bill, after approving more than two dozen official amendments, by voice vote, thus completing the Budgetary exercise for 2019-20 in the Lower House.
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