customs duty

New Delhi, April 9 The government has increased the supply of critical petrochemical feedstock to the pharmaceutical industry to ensure uninterrupted production of essential medicines, as global supply chains remain strained due to the crisis in West Asia.Prior to the West Asia conflict, the...

Joint Secretary in the Department of Pharmaceuticals, Satyaprakash T. L., stated today that the relevant departments are working closely together to ensure the uninterrupted supply of essential pharmaceutical inputs in the country. During an inter-ministerial briefing in New Delhi on the West...

New Delhi, April 8 – The shortfall in the Pakistani government's revenues has emerged as a major weakness in the IMF program.These revenues are the cornerstone of Pakistan's IMF loan agreements, focusing on aggressive tax expansion to meet revenue targets and secure funds. To align with the...

Kathmandu, April 7 – The new government in Nepal decided on Tuesday to provide partial tax exemptions on petroleum products in an effort to ease the financial burden on consumers, mirroring a similar decision by the Indian government.A Cabinet meeting held on Tuesday approved a 50 per cent...

Surat, April 3 – The central government has reduced the basic customs duty on more than 40 key petrochemical raw materials to zero for a period of three months, a move expected to ease cost pressures on Surat's textile and plastics industries amid rising global input prices.The duty...

New Delhi, April 3 Industries ranging from consumer goods to cement, which are facing challenges from rising production and packaging costs amid geopolitical tensions in West Asia, expect the government's move to reduce customs duty on a range of petrochemical products to provide much-needed...

New Delhi, April 2 The government on Thursday exempted the import of critical petrochemical products from customs duty for three months until June 30, providing relief to sectors such as pharmaceuticals, chemicals, and textiles, and ensuring supply stability amid the ongoing West Asia crisis...

New Delhi, April 2 The government has slightly exceeded its indirect tax collection target for fiscal 2025-26, an official said on Thursday.Total indirect tax collection, which includes customs, excise, and GST, as per the Revised Estimates (RE), was set at over ₹15.52 lakh crore for FY26...

New Delhi, March 30 Customs authorities have issued a demand notice of ₹23.52 crore, including duty and penalties, against Voltas, a manufacturer of air conditioners, over alleged mis-classification of certain imported goods, according to a regulatory filing on Monday.The company is reviewing...

New Delhi, March 27 – The Congress party said on Friday that the reduction in excise duty on petrol and diesel offers no real relief to ordinary people and accused the government of misleading the public with headlines suggesting a price reduction.The party stated that if people saw reports...

New Delhi, March 25 – Finance Minister Nirmala Sitharaman stated on Wednesday that the Union Budget includes several "supportive" measures for the middle class and MSMEs, and the government is moving forward with reforms based on conviction and clarity, rather than compulsion.In response to...

New Delhi, March 25 Businesses can now use UPI, debit or credit cards to pay customs duty on the ICEGATE portal, the Central Board of Indirect Taxes and Customs (CBIC) has said.The CBIC, in a circular, stated that the ICEGATE e-Payment platform has enabled a "Payment Aggregator" as an...

New Delhi, March 18 The exemption of customs duty on imported nuclear fuels and reactor components up to the year 2035 will contribute to reducing both project costs and electricity generation costs, thereby improving the economic viability of nuclear power projects, Union Minister Jitendra...