Delhi Customs officials at the Indira Gandhi International Airport have seized 34,935 grams of suspected hydroponic marijuana from two passengers who arrived from Bangkok on flight TG-323, officials said on Thursday.
The Indian government is weighing a reduction in customs duties on essential induction cooktop components to support domestic manufacturing and counter price rises triggered by the West Asia crisis.
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.
