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

Last Updated: Friday, July 24, 2015, 14:02

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.

Finance Ministry reduces penalty for customs duty fraud by 10%

Last Updated: Tuesday, June 23, 2015, 15:02

The penalty in cases of customs duty fraud has been reduced by 10 percent by the Finance Ministry.

Government reduces tariff value on gold, silver

Last Updated: Monday, June 1, 2015, 16:47

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

Govt simplifies defence rules to woo foreign firms

Last Updated: Monday, June 1, 2015, 16:09

In order to provide a level-playing field to private players, the government withdrew excise and Customs duty exemptions enjoyed by the Ordinance Factory Board and defence PSUs.

Customs duty evasion: Fin Min proposes to reduce penalty

Last Updated: Thursday, March 12, 2015, 17:13

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

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

Last Updated: Sunday, February 8, 2015, 14:24

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.

CII for reduction in CST rate in forthcoming Budget

Last Updated: Wednesday, December 10, 2014, 23:16

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.

FinMin asks tax officials to shore up realisation

Last Updated: Monday, January 27, 2014, 14:28

Buoyed by improved customs duty collections in December, Finance Minister P Chidambaram Monday asked the revenue officials to shore up realisation in the remaining months with a view to exceed the revised projections.

'Inverted customs duty making Indian mfg goods uncompetitive'

Last Updated: Sunday, November 17, 2013, 23:03

Under the inverted duty structure, finished goods are taxed at lower rates than raw material.

Make SEZs attractive for investors to boost exports: Assocham

Last Updated: Friday, September 6, 2013, 16:02

The chamber also urged the Commerce Ministry to provide customs duty exemption for operation and maintenance vis-a-vis authorised operations in non-processing area.

Govt further cuts import tariff value of gold

Last Updated: Wednesday, May 22, 2013, 14:13

In the wake of falling global prices of precious metals, the government on Wednesday further slashed the import tariff value of gold to USD 440 per ten grams, while it has been kept unchanged at USD 761 per kg for silver imports.

No authorisation needed for customs okay to imported gifts

Last Updated: Thursday, January 31, 2013, 22:01

The Finance Ministry Thursday said the Customs no longer insists on submission of authorisation from recipients for clearance of imported gifts at IGI Airport.