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In a press briefing, the CEA gave a recap of the steps taken by the government to boost the economy.

excise duty

Dec 13, 2019, 07.18 PM IST

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EXCISE DUTY

Government may impose anti-dumping duty on a chemical from five countries

The ministry's investigation arm DGTR has initiated the probe into an alleged dumping of “Mono Ethylene Glycol” originating in or exported from Kuwait, Oman, Saudi Arabia, UAE and Singapore, following a complaint from a domestic company.

Share transfers to turn costlier from January next year

All transactions done on stock exchanges will have same stamp duty rates across the c...

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  • India has imported mobile phone components worth more than $1 billion from Vietnam — with which India has a free trade agreement (FTA) —in the first half of this fiscal alone, compared to $800 million in the whole of 2018-19 and just over $600 million in FY18, an industry association of companies making handset in India has informed the government.

    The Centre is duty-bound to set up a new trust for the development of Ayodhya and construction of a Ram temple within three months as per the directive of the Supreme Court, Union Minister of State for Home G Kishan Reddy said.

    The basic custom duty of 20% is instead causing an annual loss of Rs 2,500 crore to the exchequer due to rampant smuggling of these devices that is also destabilising the business of Indian retailers who stock these phones, an association of manufacturers said in a letter to the Department for Promotion of Industry and Internal Trade.

    “The basic intent of anti-dumping measures is to eliminate injury caused to the domestic industry by the unfair trade practice of dumping and to create a level playing field for the domestic industry,” commerce and industry minister Piyush Goyal told Lok Sabha. In a separate reply, he said the government will use all available instruments in the national interest, as and when necessary.

    Googlr released it list of the most-popular apps, games and more.

    The alcohol manufacturers have pleaded that there is a massive shortage in domestic supplies of ENA following diversion of ethyl alcohol for bio-fuel blending by oil marketing companies (OMCs) in the country.

    "The cabinet has amended the UP Defence, Aerospace Unit and Employment Promotion Policy-2018 with provision of providing 25 per cent subsidy and 100 per cent stamp duty waiver for setting up defence industry in the state," Industrial Development Minister Satish Mahana told reporters in the state capital.

    India's exports of textile and apparel sector (including handicrafts) have increased from USD 39.3 billion (around Rs ) in 2017-18 to USD 40.4 billion in 2018-19," Irani said in a written reply to the Lok Sabha.

    iPhone maker Foxconn said that it may look at extending its manufacturing capabilities to make more ecosystem devices in India for domestic and global needs and is currently awaiting clarity from the govt on the Remission of Duties or Taxes on Export Products scheme, which will allow the company to drive ‘mobile plus’ capacity.

    Assam Excise minister Parimal Shuklabaidya said the bill, seeking to regulate inflow, transport or possession of molasses, will be placed before the assembly in the next winter session. Molasses is an important component in making "sulai" an intoxicating drink widely consumed in the tea garden areas of Assam.

    Underlining the importance of duties in the Constitution, Birla said if citizens turn away from duties and talk only of rights, it creates an imbalance which impedes development of the country.

    Addressing members of both Houses of Parliament in the Central Hall of Parliament House, the PM also said that while November 26 is a happy occasion as India celebrates Constitution Day, it also reminds of the Mumbai terror attacks that took place on this day in 2008. Opposition parties boycotted the event to protest political developments in Maharashtra.

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