After withdrawal of MFN status, basic customs duty on goods exported to India from Pakistan raised to 200%
5 years, 10 months ago

After withdrawal of MFN status, basic customs duty on goods exported to India from Pakistan raised to 200%

Op India  

The dastardly Pulwama attack India has withdrawn MFN status to Pakistan after the Pulwama incident. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect. With the customs duty hiked, as a response to the Pulwama attack, the financial state of Pakistan would take a hit. While the customs duty on imports from Pakistan has been hiked to 200%, there is a strong sense that India is gearing up to respond to Pakistan in the same coin for the dastardly attack that left 40 soldiers dead.

India Pakistan Customs Duty Pulwama Basic Customs Duty Mfn Mfn Status  goods  customs  attack  mfn  raised  exported  india  duty  withdrawal  status  200  nation  pakistan  pulwama

History of this topic

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade
4 hours, 4 minutes ago

India may tweak customs duties, regulations in budget to back local component manufacturing, ease trade

Live Mint  

New Delhi: The government may rework and simplify customs duties and procedures in select sectors in the Union budget for FY26 to make it attractive for manufacturers of finished goods to also produce components or semi-finished goods, according to two people familiar with the matter. Calibrating customs tariffs to improve the viability of investments in finished products and the intermediate …

200% import duty on Pakistani products killed neighbour's economy
7 months, 3 weeks ago

200% import duty on Pakistani products killed neighbour's economy

Op India  

On 17th May, Pakistan’s Foreign Minister Ishaq Dar acknowledged that the trade ties with India went south after the Pulwama terrorist attack on 14th February 2019 in which India lost 40 brave soldiers. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200% with immediate effect.” India has withdrawn MFN status to …

India to remove additional customs duties on eight US products
1 year, 6 months ago

India to remove additional customs duties on eight US products

India TV News  

India US trade: Following recent Prime Minister Narendra Modi's State visit, India has decided to remove additional duties on US products, including chickpeas, lentils, and apples. These duties were initially imposed in 2019 in response to the US increasing tariffs on specific steel and aluminium products, government sources said. India, US agree to end six trade disputes The two countries …

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise
2 years ago

Budget 2023: Govt Likely To Hike Import Duty On 35 Items; Jewellery, Electronic Items To See Price Rise

News 18  

The government is examining to hike customs duty on more than 35 items in the upcoming budget, which is scheduled to be announced on February 1, according to an Economic Times report. Meanwhile, the commerce ministry has also sought a reduction in the import duty on gold in the budget with a view to push exports and manufacturing of the …

Pakistan lifts ban on import of non-essential, luxury items
2 years, 5 months ago

Pakistan lifts ban on import of non-essential, luxury items

The Hindu  

The Pakistan government has decided to lift a recently imposed ban on the import of “non-essential and luxury items” to control the cash-strapped country's depleting foreign reserves, according to media reports on Friday. The Economic Coordination Committee of the Cabinet presided over by Finance Minister Miftah Ismail in its meeting on Thursday also allowed importing 2,00,000 metric tonnes of wheat …

Govt. waives import duty on some raw materials for steel industry, export duty on iron ore raised by up to 50%
2 years, 7 months ago

Govt. waives import duty on some raw materials for steel industry, export duty on iron ore raised by up to 50%

The Hindu  

The government has waived customs duty on the import of some raw materials, including coking coal and ferronickel, used by the steel industry, a move which will lower the cost for the domestic industry and reduce prices. Also, to increase domestic availability, the duty on exports of iron ore has been raised up to 50%, and that for a few …

Government announces customs duty cut on iron, steel inputs
2 years, 7 months ago

Government announces customs duty cut on iron, steel inputs

Live Mint  

Finance minister Nirmala Sitharaman said on Saturday that the government will rework customs duty on iron and steel and their raw materials to tame prices. “We are calibrating customs duty on raw materials and intermediaries for iron and steel to reduce their prices. The minister also said the government has decided to reduce customs duty on raw materials and intermediaries …

Delhi Customs Intercepts Pak-origin Smuggled Cosmetic Goods Worth Rs 1.2 Cr
3 years, 1 month ago

Delhi Customs Intercepts Pak-origin Smuggled Cosmetic Goods Worth Rs 1.2 Cr

News 18  

Delhi Customs has intercepted Pakistan-origin smuggled cosmetic goods weighing 2,800 kg worth Rs 1.2 crore, the finance ministry said on Friday. "Any imported goods originating from Pakistan attract Basic Customs Duty at the rate of 200 per cent of the value of the goods. "The goods were attempted to be cleared through courier mode by mis-declaring the origin and description …

Pakistan allows import of cotton, sugar from India
3 years, 9 months ago

Pakistan allows import of cotton, sugar from India

The Hindu  

Partially reversing a two-year old decision to suspend all trade with India, Pakistan announced on Monday that it would allow the import of cotton and sugar from across the border. Addressing the media at the end of a Cabinet meeting that cleared the two proposals from Pakistan’s Commerce Ministry, Pakistan’s newly appointed Finance Minister Hammad Azhar said however that the …

Budget 2021: Govt may increase customs duty on certain components, says report
3 years, 11 months ago

Budget 2021: Govt may increase customs duty on certain components, says report

Live Mint  

Union Finance Minister Nirmala Sitharaman will present Prime Minister Narendra Modi-led NDA government's eighth budget on February 1 amid the Covid-19 pandemic and under the unprecedented economic crisis triggered by it. This time, the Central Government may increase the customs duty on certain components, sources told ANI on Wednesday. According to the sources, to boost the Make in India initiative, …

More than 300 items may see customs duty hike in Budget
4 years, 11 months ago

More than 300 items may see customs duty hike in Budget

India TV News  

As a measure to boost domestic small and medium industry, the government may consider a hike in customs duty on over 300 items like toys, furniture, footwear, coated paper, rubber items among other in the Union Budget. On footwear and related products, the Ministry has suggested increase in duty to 35 per cent from the current 25 per cent while …

Pak. formally suspends trade ties
5 years, 5 months ago

Pak. formally suspends trade ties

The Hindu  

Pakistan has formally suspended trade relations with India after New Delhi revoked the special status of Jammu and Kashmir. On Friday, the Federal Cabinet, headed by Prime Minister Imran Khan, endorsed the decisions taken by the National Security Committee and the joint session of Parliament, including suspension of trade ties, The Dawn reported. Trade relations had already been strained by …

Pak Expels Indian Envoy, Downgrades Diplomatic Ties Over Kashmir
5 years, 5 months ago

Pak Expels Indian Envoy, Downgrades Diplomatic Ties Over Kashmir

The Quint  

Pakistan's decision to suspend bilateral trade ties with India would hit the neighbouring country more as they import essential items like onion, tomotoes and chemicals, according to experts. "The suspension of trade relations will hit Pakistan more badly as India is less dependent on Pakistan while the latter is more," Federation of Indian Export Organisations Director General Ajay Sahai said. …

Trade comes to a halt at Attari border after Pulwama attack, India imposes 200% RD on non-essential imports
5 years, 10 months ago

Trade comes to a halt at Attari border after Pulwama attack, India imposes 200% RD on non-essential imports

Firstpost  

Following the 14 February terror attack in Pulwama, Indian importers and manufacturers have cancelled all the orders to neighbouring Pakistan and are also demanding the return of advance payments. Amritsar: In the aftermath of India withdrawing Pakistan’s Most Favoured Nation status, businesses across Attari border have come to a halt. The traders told ANI that the Indian importers and manufacturers …

MFN status withdrawal: India yet to inform Pakistan, says trade advisor to Imran Khan
5 years, 10 months ago

MFN status withdrawal: India yet to inform Pakistan, says trade advisor to Imran Khan

The Hindu  

India has not informed Pakistan that it was withdrawing the Most Favoured Nation status to it, a senior Pakistani official said February 17, after New Delhi took strong economic action against Islamabad following the Pulwama terror attack. India on February 15 announced the withdrawal of the MFN status for Pakistan, following the deadly terror attack on CRPF personnel in Pulwama …

After Pulwama attack, India hikes import duty on Pakistani goods to 200 per cent
5 years, 10 months ago

After Pulwama attack, India hikes import duty on Pakistani goods to 200 per cent

India Today  

Taking strong economic action against Pakistan following the Pulwama terror attack, India Saturday raised the customs duty to 200 per cent on all goods imported from the neighbouring country, including fresh fruits, cement, petroleum products and mineral ore. Upon withdrawal, basic customs duty on all goods exported from Pakistan to India has been raised to 200 per cent with immediate …

Pulwama attack fallout: India moves to remove MFN status to Pakistan
5 years, 10 months ago

Pulwama attack fallout: India moves to remove MFN status to Pakistan

Live Mint  

New Delhi: India is likely to invoke “security exceptions” under Article 21 of the World Trade Organization to withdraw the unilateral non-discriminatory market status, popularly known as Most Favoured Nation status, that it granted to Pakistan in 1996. Pakistan enjoys benefits of lower tariffs on its exports to India because of the MFN status even as it continues to impose …

Pulwama terror attack: Withdrawal of MFN status to hit Pakistan economy, says NITI Aayog vice chairman Rajiv Kumar
5 years, 10 months ago

Pulwama terror attack: Withdrawal of MFN status to hit Pakistan economy, says NITI Aayog vice chairman Rajiv Kumar

Firstpost  

New Delhi: India’s decision to withdraw the ‘most favoured nation’ status to Pakistan will adversely impact the neighbouring country’s economy which is already in “deep trouble”, NITI Aayog Vice Chairman Rajiv Kumar said on Friday. “The impact of India’s decision to withdraw MFN status on Pakistan economy, which is already in deep trouble, could be significant. Noting that India has …

India's withdrawal of MFN status after Pulwama terror attack will affect Pakistan's exports worth $488 mn
5 years, 10 months ago

India's withdrawal of MFN status after Pulwama terror attack will affect Pakistan's exports worth $488 mn

Firstpost  

After the withdrawal of the MFN status, India can raise customs duties on several goods being imported from Pakistan. Withdrawal of most favoured nation status to Pakistan after the deadly Pulwama terrorist attack is expected to affect its exports to India to the tunes of $488.5 million, said media reports. In December last year, a World Bank report had said …

Withdrawing Pakistan’s MFN status will divert trade
5 years, 11 months ago

Withdrawing Pakistan’s MFN status will divert trade

Live Mint  

New Delhi: With India finally deciding to withdraw the unilateral non-discriminatory market status it granted to Pakistan in 1996 — popularly known as Most Favoured Nation status in World Trade Organization parlance — after the Pulwama terror attack, the already weak trade links between the two neighbours in South Asia is set to worsen. Pakistan enjoys benefits of lower tariffs …

Pulwama terror attack: India revokes most-favoured nation status to Pakistan, customs duty on imports from Pak may go up
5 years, 11 months ago

Pulwama terror attack: India revokes most-favoured nation status to Pakistan, customs duty on imports from Pak may go up

Firstpost  

Following the Pulwama terror attack, India Friday withdrew the ‘most-favoured nation’ status to Pakistan, a move which would enable India to increase customs duty on goods coming from the neighbouring country New Delhi: Following the Pulwama terror attack, India Friday withdrew the ‘most-favoured nation’ status to Pakistan, a move which would enable India to increase customs duty on goods coming …

Govt in favour of aluminium import duty hike: Suresh Prabhu
6 years ago

Govt in favour of aluminium import duty hike: Suresh Prabhu

Live Mint  

New Delhi: The commerce ministry is in favour of hiking import duty on aluminium with a view to support domestic manufacturers, union minister Suresh Prabhu has said. The industry has demanded increase in import duties on aluminium scrap and primary aluminium amid a high growth in inward shipments of these items. They are demanding to raise the import duty on …

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more
6 years, 3 months ago

Customs duty hiked on ‘non-essential items’, flying, ACs, refrigerators to cost more

Hindustan Times  

The government Wednesday hiked customs duties on as many as 19 items, including jet fuel, ACs and refrigerators, effective midnight as it aims to curb imports of non-essential goods. Total import bill on account of shipment of these items into the country last fiscal was Rs 86,000 crore, the Finance Ministry said in a statement. “The central government has taken …

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