ZERO DUTY BARTER
Budget 2020: ISSDA seeks nil duty on import of key raw materials
ISSDA also urged the government for simultaneous imposition of 12.5% custom duty on stainless steel flat product imports in order to bring it at par with carbon steel. The association has also sought abolition of 7.5% import duty on graphite electrodes, another major raw material for stainless steel manufacturing, an official statement said.
Import duty exemption on routers to continue
“A finance ministry notification, dated December 30, has assigned a new harmonised system (HS) c...
Edible oil producers seek lower duty on raw, refined imports
Producers seek decreasing import duties of crude palm oil (CPO) to 30% from 40% ...
Futuristic architecture, integrated capabilities: Hyundai's new hydrogen-powered truck ensures zero carbon emission
Fuel cells are the ‘perfect fit’ for commercial heavy-duty trucks, according to the company.
Mobile companies seek review of duty on parts as imports from Vietnam soar
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.
Premium phone cos seek Rs 4,000 cap on customs duty
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.
India's apparel exports to EU face a duty disadvantage: Smriti Irani
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.
'Zero duty on open cell TV panels only till September 2020'
India imports finished open cell panels, which are used in making the LED panels, since there is no panel manufacturing facility in the country.
Google Play's 'Best of 2019': Indians loved Spotify, Call of Duty: Mobile; looked for motivation in 'The Magic of Thinking Big'
Googlr released it list of the most-popular apps, games and more.
Agriculture Ministry told to prepare ‘zero edible oil import’ plan
India spends over Rs 70,000 crore to import about 15 MT edible oil to meet its annual requirement of 25 MT, making it one of the biggest buyers of the cooking medium. The need for a “zero edible oil import” plan was discussed by commerce minister Piyush Goyal at an inter-ministerial meeting.
View: India’s duty structure must be turned upside down for global competitiveness
Usually, countries keep import duty low on Key Industrial Raw Materials (KRMs) and high on Value Added Products (VAPs). But in India, KRMs attract higher import duty than corresponding VAPs. This increases the cost of production and make exports uncompetitive. The industry also becomes vulnerable to imports due to low import duty on VAPs.
Subsides soon to make batteries in India
Bids from global cos to be invited in December and 10-year sops, zero import duty on key inputs on cards.
Big copper makers at war with smaller cos over customs duty
Secondary producers seek reduction in duty on copper cathode & copper scrap while large players want it to remain at 5%.
TV companies may stop making in India, turn to zero-duty FTA imports
Import of finished TV sets from countries with which India has FTA leads to net savings of around 5%.
Transport Ministry urges states to incentivise EVs, promote them for shared mobility
States have also been asked to encourage induction of electric vehicles in shared mobility and public transport operations.
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