Latest Tax News & Updates

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Imposition of High Custom Duty on Steel and Aluminium Products

Custom Duty - 03-Apr-2019

The United States has imposed global tariff of 25% and 10% in March, 2018 on certain steel and aluminium products, respectively, under Section 232 of US Trade Expansion Act of 1962.  India took up this issue at World Trade Organisation (WTO) as it considers these additional duties to be non-compliant with WTO provisions. India has retaliated against the US by imposing additional customs duties on 29 items originating from the US under the provisions of WTO Safeguard Agreement. India has...

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Rationalization of customs duty & Procedures to Boost Make In India

Custom Duty - 02-Apr-2019

RFID technology to be used to improve export logistics  The Government has undertaken rationalization of customs duties and procedures to promote the “Make in India” initiative. While presenting the Interim Budget 2019-20 in Parliament today, the Union Minister for Finance, Corporate Affairs, Railways & Coal, Shri Piyush Goyal said, “The Government has abolished duties on 36 capital goods. A revised system of importing duty-free capital goods and...

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