Stay updated
A recent judgment by the Bombay High Court (HC) quashing a Customs adjudication order after seized goods deteriorated during a prolonged dispute is expected to provide relief to importers, with experts saying the ruling could set a precedent for waiving demurrage and other charges when goods perish or lose value while in official custody.
The government on Tuesday restored full benefits of its flagship export promotion scheme Remission of Duties and Taxes on Exported Products (RoDTEP) that is designed to refund taxes incurred while producing for exports to agriculture and processed food items.
The United States has imposed a preliminary duty of 126 percent on solar panels imported from India amid allegations of subsidies, triggering panic among traders. Following the tariff announcement, solar-related stocks witnessed a sharp decline.
The Central Board of Indirect Taxes and Customs (CBIC) will on Thursday launch single-window platform SWIFT 2.0, release the Digital Travellers Guide; and the revamped Atithi app.
The revenue department will roll out the 30-day duty deferral facility for eligible manufacturer-importers from next month, which will help such importers to better manage their liquidity, a senior official said on Thursday.
Xiaomi has challenged an Indian tax ruling that said the company evaded $72 million in tariffs on royalty payments, according to legal documents, a dispute that the Chinese company and lawyers say is a test of the country’s legal framework for contract manufacturing.
US President Donald Trump has said he will impose global tariffs of 15%, as he continues to rail against a Supreme Court ruling that struck down his previous import taxes.
The BBC is learning new details about Trump’s plans to impose new tariffs that could, essentially, replace those struck down by today’s ruling.
Days after India signed a trade deal with the United States, Bangladesh on Tuesday (February 10) struck a fresh trade deal with Washington, securing zero reciprocal tariffs on certain textile and apparel goods and a 19% reciprocal tariff compared to 20% earlier, which has sent shares of Indian textile exporters tumbling.
The United States of America (United States) and India are pleased to announce that they have reached a framework for an Interim Agreement regarding reciprocal and mutually beneficial trade (Interim Ag..