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India plans to lower import tariffs on electric cars, rejecting requests from local automakers to delay such cuts by four years, as New Delhi prioritises closing a trade deal with the United States, government and industry sources told Reuters.
Nestle India Ltd on Wednesday said it has received a tax penalty of ₹69 lakh. In an exchange filing, the company said the order has been passed under Section 28 (4) read with Section 28AA of Customs Act, 1962.
Tax authorities have ordered Samsung and its executives in the country to pay ₹5,156 crore ($601 million) in back taxes and penalties for dodging tariffs on import of key telecoms equipment, a government order showed, for one of the biggest such demands in recent years.
Companies that have exported goods until February 5 this year from special economic zones (SEZs) and export-oriented units (EOUs) can claim benefits under the RoDTEP scheme, according to a notification. Earlier, the exporters were allowed to seek benefits under the scheme till December 31, 2024.
The court declared unconstitutional a part of the 2021 customs department exemption notification that required payment of integrated GST and a cess on the repair cost of goods re-imported into India after being sent abroad for maintenance.
In Skoda Auto Volkswagen India’s petition challenging a tax demand of USD 1.4 billion by Indian Customs authorities, the Bombay High Court today asked the Customs Authority to file an affidavit explaining why the September 2024 show-cause notice issued to the company is not barred by limitation.
The Central Board of Indirect Taxes and Customs has notified Customs Manual 2025. This iteration incorporates all changes in Customs procedures, including automated processes, introduced till February 1, explain Saurabh Agarwal and Vimal Pruthi, making it a reference tool for trading houses.
Skoda Auto Volkswagen India will have to fall in line and not play “victim”, the Customs department told the Bombay High Court on Thursday, justifying its $1.4 billion tax demand notice served on the firm for allegedly providing misleading information on imports.
VEGA (Vision for Expeditious Goods release on Arrival) launched by Hon’ble Finance Minister Smt Nirmala Sitharaman on the occasion of celebration of International Customs Day.
India is set to review import tariffs on over 30 items including luxury cars and solar cells, potentially leading to higher imports from the United States, a senior finance ministry official said.