Page 2 - Import Duty

Import duty hike likely to weigh on stocks of gold jewellery retailers

Analysts were bullish on Titan before, but may downgrade target price

High duty may extend slack season for gold, keep prices in check for now

Gold domestic futures jumped by about 3 per cent to over Rs 52,000 per 10 gram in initial trading

Govt raises import duty on gold to 15% from 10.75% to curtail CAD

Last year, the government had cut the tax on gold imports to 7.5% in the Union Budget

Another PLI scheme for textile sector to be announced soon: Piyush Goyal

There is no need to extend waiver on import duty of cotton after September, says minister.

Adani Wilmar slashes edible oil prices by Rs 10 on govt's import duty move

Adani Wilmar has reduced the maximum retail price (MRP) of Fortune refined Sunflower oil's 1-litre pack to Rs 210 from Rs 220, the company said in a statement.

Madhya Pradesh ministerial group agrees to reduce import duty on beer, wine

A group of ministers (GoM) in the Madhya Pradesh government deliberating on excise matters has given the consent to reduce the import duty on beer and wine in the state, state home minister said

Steel products' prices should fall by 10% for primary producers: EEPC

In the wake of rising input costs, especially primary steel, the government's decision to remove import duty on raw materials for the metal production would lower costs for domestic steelmakers

Govt must cut import duty rates to combat inflation

Our government need not merely wait for the global commodity prices to drop but take active measures to supplement the actions of the monetary authorities

No duty concession on 29.8% of product categories under FTA with Australia

Indian exports to Australia primarily consist of consumer and manufactured goods

Ukraine, UK sign preferential trade deal; abolish import duty, tariff quota

"Ukraine and the UK have legally enshrined the abolition of import duties and tariff quotas in bilateral trade by signing an agreement," the ministry was quoted as saying by Xinhua news agency

Assocham calls for zero import duty on coal to tackle power supply issues

Several states are reeling under power shortages with the situation being further affected by extra-ordinary heatwave setting in quite early this year

Reduce import duty on coffee, Papua New Guinea to urge India

The two countries are working on a double taxation avoidance agreement

Hike import duty gap between crude and refined palm oil: Industry

India's 60 per cent of the edible oil requirement is met through imports

Import duty removal on cotton may help bring down prices: Textile Secy

The government's decision to remove import duty on cotton is likely to help bring down prices of the commodity, Textiles Secretary U P Singh said on Thursday. The finance ministry on April 13 waived customs duty on cotton imports till September 30, a move that will benefit the textile industry and keep prices low for consumers. Currently, cotton imports attract 5 per cent Basic Customs Duty (BCD) and 5 per cent Agriculture Infrastructure Development Cess (AIDC). The industry has been demanding a waiver of duty to lower domestic prices. "It would enable people who want to import. We are expecting that within a day or two, you would certainly see the impact on prices going down but at the same time we would not expect the prices to be very low because there is a shortage all over (the world)," Singh told reporters here. In India, cotton crops get affected because of unseasonal rains, and in the US, there were drought-like conditions. "So supply is less, demand is high....import duty

Effective duty on crude palm oil cut to 5.5% to cool edible oil prices

With edible oil prices ruling high throughout last year, the government had on multiple occasions cut import duty on palm oil to increase domestic availability.

Textile sector pitches for removing import duty on all varieties of cotton

The Centre estimates cotton production in 2021-22 at 36.25 million bales, while traders said it was around 33-34 million bales

Budget: Jewellery council seeks import duty cut on precious metals

The Budget for FY23 will be tabled in the Parliament on February 1

India slaps Rs 653-cr import duty evasion notice on Xiaomi

This comes after recovery of documents during searches on its premises that indicated remittance of royalty and licence fee to US and Chinese firms under contractual obligations

Govt making efforts to get duty concessions on textile via FTAs: Goyal

Goyal also thanked the prime minister for the decision to defer the increase of GST slab from five per cent to 12 per cent for the textiles sector

Southern India Mills Association urges PM to remove import duty on cotton

Southern India Mills Association urged Prime Minister to remove the 11% import duty on cotton and cotton waste and also cotton from MCX and NCDEX features