Farmers and the industry expect the new government to increase import duty on cooking oils to support soyabean prices, remove export duty on onions, and take cautious stand on the demand for import of maize and wheat. Inspired by the onion farmers, others have started demanding policy measures to support soyabean and milk prices.“Soyabean prices … Read more
Pune: India’s decision to remove the 40% import duty on desi chana has led to a 7-10% jump in the international prices of the commodity within a day of the announcement on Friday. Made at a time when sowing is ongoing in Australia, this decision is expected to encourage farmers there to boost the acreage … Read more
The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry, a move which will lower the cost for the domestic industry and reduce the prices. Also, to increase domestic availability, the duty on exports of iron ore has been hiked up to … Read more
The government cut import duty on crude and refined palm oil, soybean oil and sunflower oil to provide a respite to consumers amid rising food prices ahead of the consumption-driven festive season. In a notification issued late on Friday, the Central Board of Indirect Taxes and Customs (CBIC) notified the changes in customs duty rates, … Read more
India is likely to lower the effective import duty on edible oils to provide some respite to households from rising prices. The government is considering reducing the effective import duty, which includes cess and other charges, on crude palm, soya and sunflower oil to 24.75% from 30.25% and on refined palm and soya oil to … Read more
The relief, which was set to expire at the end of July, has already been extended once. (File) The Centre has extended the import duty relief on Covid-19 related materials till September 30, the Central Board of Indirect Taxes and Customs (CBIC) said on Monday. These supplies include medical oxygen and related equipment and vaccines. … Read more
The government on Tuesday reduced basic customs duty on crude palm oil to 10 per cent, which will help bring down the edible oil prices in the retail market. The Central Board of Indirect Taxes and Customs (CBIC) in a notification cut the basic customs duty on crude palm oil to 10 per cent and … Read more
The aggregate duty on import of components has become almost equal to that on a complete unit. Synopsis From Oct 1, the government levied 10% import, or basic customs, duty on display assembly, touch panel/cover glass assembly, as per the phased manufacturing programme milestones. The levy is also expected to increase prices of devices by … Read more