Wait...

Online Export Import Data Search

Recent Searches: No Recent Searches
Complete Training Video : Click Here

Will look into proposals for import duty hike on consumer durables, says CBIC.


Date: 27-07-2018
Subject: Will look into proposals for import duty hike on consumer durables, says CBIC
The Central Board of Indirect Taxes and Customs (CBIC) will look into the suggestions of hiking import duty on consumer durable items to protect the domestic industry. The industry has represented to the government seeking increase in customs duty to shield it from cheap imports.

“The domestic industry has said it needs protection. We are looking into all the proposals that have come in,” CBIC chairman S Ramesh said when asked if the government is considering hiking import duty on consumer durable items.

The GST Council had last week decided to cut tax rates on white good like small screen TVs, fridges and washing machines to 18 percent, from 28 percent. The new rate will take effect tomorrow.

Importers pay Integrated GST (IGST) on top of customs duty at the time of importing goods. With cut in GST rate, the IGST rate for importers too would come down.

Addressing a CII industry meet, Ramesh said the GST council in its last meeting cut rates on a host of items, which was decided on the basis on revenue neutrality and reduction of additional burden on taxpayers.

The decisions taken recently reflect the firm resolve of the government to enhance the ease of doing business, reduce cost of compliance, he said.

“By easing the burden of return filing, we hope that tax compliance would be better and sustained in the long run,” Ramesh said.

The GST Council has been rationalising rates and procedures are being made comfortable.

"The signal, intent and resolve of the government is to ensure tax rate, procedure and compliance burden are gradually made comfortable. At the same time, the government expects the industry also to ensure that compliance is a top priority,” he said.

Ramesh said during the ongoing special refund fortnight, the tax officers are reaching out to the trade and industry to their offices to handhold them for expeditious refund clearance.

“We are not only collect taxes but ensure refunds pro-actively,” he said.

Source: moneycontrol.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 15-04-2021
Notification No.43/2021 - Customs (N.T.)
Exchange rates Notification No.43/2021-Cus (NT) dated 15.04.2021

Date: 13-04-2021
Public Notice No. 01/2015-2020
Allocation of additional quantity of 3675.13 MT (raw/refined) sugar to UK under TRQ scheme for the year 2020-21

Date: 12-04-2021
Notification No. 21/2021-Customs (ADD)
Seeks to impose anti-dumping duty on imports of Normal Butanol or N-Butyl alcohol originating in or exported from European Union, Malaysia, Singapore, South Africa and United States of America for a further period of 5 years.

Date: 11-04-2021
Notification No. 01/2015-2020
Amendment in Export Policy of Injection Remdesivir and Remdesivir API.

Date: 09-04-2021
Public Notice No. 53/2015-2020-DGFT
Late cut for MEIS applications for exports made in the Financial Year 2019-20

Date: 08-04-2021
Notification No. 08/2021-Central Excise
Seeks to amend central excise notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 08-04-2021
Notification No. 26/2021 – Customs
Seeks to amend customs notifications to make changes consequential to enactment of Finance Act, 2021.

Date: 07-04-2021
Public Notice No. 52/2015-2020
Change of office address of Regional Authority, Ahmedabad.

Date: 07-04-2021
A.P. (DIR Series) Circular No. 01
External Commercial Borrowings (ECB) Policy – Relaxation in the period of parking of unutilised ECB proceeds in term deposits

Date: 05-04-2021
Notification No. 41/2021-Customs (N.T.)
Seeks to notify Customs (Verification of Identity and Compliance) Regulations, 2021



Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001