With a view to promoting exports, boosting domestic manufacturing, and enhancing value addition, the Union Budget 2023-24 has proposed a number of changes to the Customs Duty regime which is likely to make mobile phones and TVs cheaper and a certain class of automobiles, including EVs, as well as toys and bicycles dearer. I propose to reduce the number of …
The Central Board of Indirect Taxes and Customs has issued a clarification on the concessional Basic Custom Duty rate on parts used in the manufacturing of Liquid Crystal Device and Light Emitting Diode TV panels. 50/2017-Customs dated June 30, 2017 provides for a concessional BCD rate of 5% for specified parts and subparts of LCD and LED TV panels. According …
The government on Tuesday proposed to increase the basic customs duty on import of commonly used items, including headphones and earphones, loudspeakers, smart meters, imitation jewellery, solar cells, solar modules to promote domestic manufacturing in the in the Union Budget for 2022-23. However, imported cut and polished diamonds, frozen mussels, frozen squids, asafoetida, cocoa beans, methyl alcohol and acetic acid …
Solar power producers are staring at a sharp escalation in costs of projects under construction if they fail to complete them before the government imposes a basic customs duty on imported solar photovoltaic cells and modules from next year. Power producers will, however, be forced to rush to finish projects within deadlines with imported equipment to keep costs under control …
The high court added that the Serum Institute of India and Bharat Biotech have the capacity to provide more vaccine doses but that ’their full capacity is not being exploited' New Delhi: The Delhi High Court on Thursday asked the Centre to explain the rationale behind keeping strict control over class of persons who can be vaccinated against COVID-19 currently …