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Customs duty News

01 Feb 2021

Union Budget 2021 proposes Custom duty structure overhaul; check details

The Finance Minister said that there is immense potential in manufacturing heavy capital equipment domestically The rate structure will be comprehensively reviewed in due course She proposed to withdraw exemptions on tunnel boring machine

26 Aug 2019

Customs duty on imports of subject goods originating in Malaysia increased

Government seeks that the step will help limit import of Palm Oil from Malaysia, thereby benefiting domestic farmers directly.

06 Feb 2018

Govt doubles import duty on sugar to 100%, hikes chana to 40%

Presently, customs duty on sugar is 50% and that on chana is 30%.

16 Jan 2018

Assocham seeks 10% import duty on chemical pulp

The industry body has also sought policy measures to facilitate private sector participation in plantation development programmes.

Apple iPhone price hike

18 Dec 2017

Apple hikes iPhone prices in India post-customs duty hike

Check out the prices of the Apple iPhones post the custom duty hike.

Finance Ministry

16 Dec 2017

Apple iPhones to get costlier as govt raises import tax on cellphones

Apple imports nearly 88 percent of its devices into the country.

Finance Ministry

15 Dec 2017

Govt raises customs duty on some electronic items including TV, mobile phone

As per a government notification, customs duty on television set has been increased to 15 percent from the existing 10 percent.

Goods and Services Tax

26 Apr 2017

Mobile prices to go up as government may slap customs duty on imported handsets

Certain exemptions that are currently available to domestic handset makers will have to go after the GST regime comes into force.

Medical devices industry

10 Mar 2016

Industry opposes import duty hike on medical devices

Medical devices industry has strongly opposed the government's proposal to increase the import duty, saying it will increase healthcare costs for patients and hurt the Rs 50,000-crore industry.

Gold import tariff

24 Jul 2015

Govt cuts tariff value on imported gold for 2nd straight week

The government on Friday slashed the import tariff value on gold for the second straight week to USD 354 per 10 gm in line with weak global prices of the precious metal.

Gold import tariff

01 Jun 2015

Government reduces tariff value on gold, silver

During last fortnight, the tariff value on imported gold was USD 398 per 10 grams and on silver at USD 567 per kg.

12 Mar 2015

Customs duty evasion: Fin Min proposes to reduce penalty

Government proposes to reduce by 10 percent the penalty levied in cases involving fraud and other means to evade customs duty.

08 Feb 2015

Maintain customs, excise, service tax rates in Budget: CII

The rates of service tax, central excise and customs duties be maintained at the current level in the Budget in order to aid the success of the 'Make in India' initiative, industry body CII has said.

10 Dec 2014

CII for reduction in CST rate in forthcoming Budget

Industry body CII Wednesday said the government should announce measures like removal of anomalies in customs duty, reduction in CST rate, rationalisation of CENVAT credit scheme, among others in the forthcoming Budget.

01 Oct 2014

Govt cuts import tariff value on gold & silver

The import tariff value is the base price at which customs duty is determined to prevent under-invoicing. It is revised on a fortnightly basis considering volatile global prices.

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