Extend GST Waiver To All Rare Diseases Drugs: Industry Body & Patient Groups Highlight Gaps

While The GST Council’s decision was well received across the spectrum, pharmaceutical companies, industry bodies and patient advocacy groups have argued that the exemption should be applicable to all rare disease drugs and should not be only restricted when imported for personal use as this can pose multiple challenges for patients

India To Remove Retaliatory Customs Duties On Eight US Products

The decision to remove these retaliatory tariffs was reached during Prime Minister Narendra Modi's recent state visit to the US

Govt Scraps Basic Customs Duty, Cuts Agri Cess On Crude Palm, Soyabean Sunflower Oil

The duty cuts will be effective from October 14 and will remain in force till March 31, 2022, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification.

Centre Extends Customs Duty Exemption On Coronavirus Equipment Till Sept

Meanwhile, tanks, generators, canisters, Medical grade oxygen, oxygen concentrators, filling systems, ISO containers for shipping oxygen, ISO containers for shipping oxygen, any other device which helps in oxygen generation, ventilators, high flow nasal cannula device, etc are exempted from the duty and cess by the Ministry of Finance.

Remdesivir Production Capacity Increased To Around 1.19 Cr Crore Vials A Month: Govt

Customs duty has been exempted on remdesivir injection, remdesivir API and Beta Cyclodextrin used in the manufacture of remdesivir with effect from April 20, 2021

BIF Seeks Reversal Of Hike In Import Duties On Components, PCBAs; Writes To Dot, Finance Ministry

Customs duty payable post the removal of this exemption, would lead to many components suffering an additional duty ranging between 8.25 per cent to 16.5 per cent making cost of Make-in-India telecom products to go up...

Govt Raises Customs Duty On Certain Auto Parts To Support Local Manufacturing

Finance Minister Nirmala Sitharaman proposed increase in customs duty of various parts including ignition wiring sets, safety glass and parts of signalling equipment to 15 per cent with effect from February 2.

Govt may increase customs duty on certain components in Union Budget 2021: Sources

Govt may increase customs duty on certain components in Union Budget 2021: Sources

Custom Duty On Electric Vehicles Increased, Hyundai And MG Motors To Get Hit

In a move to encourage make in India, Customs duty on vehicles brought to India in completely knocked down (CKD) form is proposed to be raised to 15 per cent, up from 10 percent presently from April 1.

Jewellery Industry Hit By Recession, Job Losses Likely: GJC

Hike in customs duty and the present GST rate is affecting customer sentiment, as prices of jewellery have increased.

EU Gives Britain Two Months To Pay 2.7 Billion Euros Over China Fraud

After Britain allegedly ignored a scam by Chinese importer, the EU today gave the country 2 months to recover 2.7 billion euros in lost customs duties or risk referral to EU's top court

Trump Imposes New tariffs On Additional $200 billion Worth Of Chinese Imports

In escalating tension between USA and China, US President Donald Trump slapped 10 per cent tariffs on $200 worth of Chinese imports on top of $50 billion worth already taxed this year

Economists Favour Cut In Income Tax Rate; Harmonise Custom Rate

Simplification and reduction in personal income tax rates and harmonisation of customs duties to global levels in a bid to boost economic activities were favoured by economists at a meeting chaired by Prime Minister Narendra Modi at Niti Aayog

IPL 6: The Money Trail

Import Tariff Value On Gold Cut to $440/10g