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Custom duty News

26 Jun 2023

India To Remove Retaliatory Customs Duties On Eight US Products

In 2018, the US imposed an import duty of 25 percent on steel products and 10 percent on certain aluminum products on grounds of national security.

30 Mar 2023

Centre Exempts Import Duty On Drugs, Food Used For Treatment Of Rare Diseases

This exemption will result in substantial cost savings and provide much needed relief to the patients. The Government has also fully exempted Pembrolizumab (Keytruda) used in treatment of various cancers from basic customs duty.

20 Jan 2022

Government informs source of income in Budget

The central government informs about sources of income in union budget custom duty excise duty income tax corporate tax and many more

Special Economic Zone

25 Jun 2017

SEZs keen on FTA rates, commerce ministry working on proposal

The SEZ players have demanded that they be allowed to sell their goods in DTA on same terms as applicable under free trade agreements (FTAs) signed by India with different countries.

02 Apr 2017

Items getting costlier and cheaper from April 1 – Here's the list

From the next fiscal year, that is from today, a lot of things of your daily needs as well as things of your comfort are going to get dearer.

19 Feb 2015

Stainless steel makers seek higher customs duty

Ahead of the budget, stainless steel firms have asked the Finance Ministry to increase customs duty to 25 percent from 10 percent at present to safeguard the interest of domestic firms in view of growing imports.

16 Feb 2015

Customs duty on crude oil may be re-introduced

At five percent basic customs duty, the government will earn more than USD 3 billion on an annualised basis.

indirect tax collection

19 Aug 2014

Indirect tax collections up 3.9% in April-July

Indirect tax mop up inched up by 3.9 percent in the April-July quarter of the current fiscal due to decline in custom duty and excise duty collections, reflecting slump in manufacturing activity.

27 Jul 2014

Gold smuggling may rise if customs duty not lowered: Experts

In 2013, the government had hiked the Customs duty on gold in phases to 10 percent to control gold import and to bring down the CAD.

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