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india, top buyer of us almonds, hits back with 120% duty on import




india, the world's biggest buyer of u.s. almonds, raised import duties on the commodity by 20 per cent, a government order said, joining the european union and china in retaliating against president donald trump's tariff hikes on steel and aluminium. new delhi, incensed by washington's refusal to ex...



harley davidson to get cheaper as govt cuts import duty on high-end bikes




imported motorcycles from high- end brands, including harley davidson and triumph, are set to get cheaper as the government slashed customs duty to 50 per cent. earlier, import of motorcycles with engine capacity of 800cc or less used to attract 60 per cent duty, while those with capacity of 800cc o...



customs duty on polyester fabric raised to 20%




the central government has decided to increase the basic customs duty on polyester fabric to 20 per cent, from 10 per cent, with effect from last friday. in the goods and services tax regime, countervailing duty has been replaced with integrated gst and special additional duty (sad) has been scrappe...



import duty on non-palm oils hiked by 5-10%




india’s palm oil imports in may plunged 38 per cent from a year earlier to their lowest in nearly four and a half years, as higher import tax on the tropical oil made it more expensive, a trade body said on thursday. however, the fall in import of palm oil has been offset by much higher import of ...



centre hikes import duty on edible oils to protect farmers




the centre has raised import duty on crude palm oil to 30% from 15% and on refined oil to 40% from 25 (rpt) 25% in a bid to curb cheaper shipments and boost local prices for supporting farmers and refiners, according to a notification.import duty on soyabean oil, sunflower oils, canola/mustard oils ...



domestic sugar prices to move up on import duty hike: icra




sugar prices are likely to move up in near term following supply restrictions on the government's move to raise import duty to 50 per cent from the existing 40 per cent. the government early this week raised duty on raw sugar import following the recent decline in the global sugar prices and improve...



govt raises import duty on palm oil, soyoil to support farmers




india doubled the import tax on crude palm oil to 30 percent, while the duty on refined palm oil has been raised to 40 percent from 25 percent earlier, the government said in an order late on friday, as it tries to support local farmers. the world's biggest importer of edible oils also raised the im...



sharp increase in tariff on palm oil, chickpea




the central government has sharply raised the import duty on palm oil and chana (chickpea or bengal gram). the duty on crude palm oil (cpo) has been raised to 44 per cent from the earlier 30 per cent and on rbd (the refined variety) to 54 per cent from 40 per cent. for kabuli chana (white chickpea) ...



trump's duty hike threat disastrous for indian diamond jewellery sector




united states president donald trump's latest threat to increase import duty on industrial and consumable commodities could have a disastrous impact on india's $40 billion diamond jewellery exports, in case the hike is country-specific. the us alone consumes around 40 per cent of india's annual jewe...



govt may hike import duty on sugar to check any cheaper shipments from pak




the government might lift the import duty on sugar from the current 50 per cent to check any cheaper shipments from pakistan. however, no final decision has been taken yet, industry sources and officials said. pakistan is planning to give a subsidy on sugar exports that could make it cheaper for ind...



india hits back at us with higher import duties on farm, steel products




india increased duties on a slew of farm products, steel and iron imported from the united states, a government notice said, joining the european union and china in retaliatory action against president donald trump's tariff hikes on steel and aluminium. india's move came a day after the eu's decisio...



govt halves import duty on lcd/led tv panels to 5% to boost domestic biz




the government has halved customs duty on 'open cell' used in the manufacturing of lcd and led television panels to 5 per cent, a move intended to boost domestic manufacturing. "open cell (15.6 and above) for use in the manufacture of liquid crystal display (lcd) and light emitting diode (led) tv pa...



more needed to curb genetically modified soyabean and soy seeds import




the union environment ministry's directive to the directorate general of foreign trade (dgft) to stop any import of genetically modified (gm) soybean and seed without its approval could have limited impact unless curbs are also placed on the plant quarantine authority and the customs department, bus...



oilseeds see sharp increase in prices on restocking by crushing mills




two major kharif season oilseeds have seen a sharp increase in their prices after the government in mid-november raised the import duty on edible oils, to protect farmers. while soybean has become costlier by 19.4 per cent to rs 3,303 a quintal, groundnut is up eight per cent since november when the...



narendra modi's toughest task yet: cleaning india's dirty diamond pipeline




that there was something egregiously rotten in india’s diamond trade should have been evident when finance minister arun jaitley, in union budget for 2018-19, doubled the import duty on polished diamonds to five per cent. within a few days after jaitley’s budget announcement, the narendra modi-l...



us getting nothing: trump slams india's 50% import duty on harley davidson




president donald trump on monday once again raked up the issue of high import duty on harley-davidson motorcycles by india, saying the us was "getting nothing" with the new delhi's recent announcement that it had slashed customs duty on imported motorcycles from high-end brands to 50 per cent. he ad...



indian motorcycle slashes prices by up to rs 300,000 post customs duty cut




american niche bike maker indian motorcycle on wednesday said it has slashed prices of its models in india by up to rs 300,000 following reduction in customs duty. the government last month slashed customs duty on imported high-end bikes to 50 per cent. earlier, import of motorcycles with engine cap...



as crude hits $80 a barrel, oil import bill may cost govt up to $50 bn




a day after crude oil prices hit $80 a barrel, the government said it expected an increase of $25-50 billion in the import bill for 2018-19. that could lead to an oil import bill of $130-155 billion. india’s crude oil import bill for 2018-19 was estimated at $105 billion, according to the ministry...



petroleum coke import duty hike may hit cement companies' operating profits




cement companies operating profits may fall by one per cent following the government's decision to hike import duty on pet coke to 10 per cent from the current 2.5 per cent, a report said."the operating margins of cement companies, which use a high proportion of pet coke are likely to be affected fo...



plans afoot to import gold from russia, says suresh prabhu




the government is mulling a proposal to import gold from russia to help gems and jewellery exporters provided they agree to ship out the entire consignment after value addition, commerce and industry minister suresh prabhu has said. under the 'bonded basis' imports, the duty free consignment will no...



after qatar and australia, gail india gets russia to lower lng import price




india has used its status as asia's third-largest lng buyer to renegotiate deals with australia and qatar



gold import surges over two-fold to $16.95 bn in h1fy18




gold import surged by more than two folds to $16.95 billion during the first half of 2017- 18, according to the commerce ministry data.gold import, which has a bearing on the country's current account deficit (cad), was worth $6.88 billion in april- september 2016-17.in september this year, import o...



petcoke issues could nudge cement firms towards coal




although petcoke continues to remain the preferred fuel of cement companies despite the recent import duty hike, the uncertainties around it could impel a movement back towards coal. however, a substantial shift would need assured supply linkage from the near-monopolist home supplier, government-own...



be ready to pay more at restaurants as dining out could become costlier




however, the centre has nixed the restaurants' argument about input tax credit, saying the impact of input tax credit would not be more than 6% of the base price for large eateries which have franchises, and much lower at 2% for smaller ones.make in indiafinance secretary hasmukh adhia was quoted by...



anti-dumping duty on indian shrimp import unlikely to impact shipment




the recent threefold hike in anti-dumping duty (add) on indian shrimp import by the united states is not likely to have much impact on shipment volume. the usa is the largest market for indian seafood. the add has been raised on shrimp to 2.34 per cent, from 0.84 per cent. “it is definitely a matt...