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News Indirect Tax-Customs

  • Apr 10, 2019
  • Commerce ministry recommends anti-dumping duty of $1,633 per tonne on Indonesian sweetener

    The commerce ministry has recommended an anti-dumping duty of USD 1,633.17 per tonne on Saccharin, a kind of sweetener, from Indonesia to guard domestic manufacturers from cheap imports from the Southeast Asian country. The ministry's investigation arm - Directorate General of Trade Remedies (DGTR) - has conducted the probe of alleged dumping of this product following a complaint from Swati Petro Products Ltd.

  • Mar 30, 2019
  • Govt extends deadline to impose higher duties on 29 US products to May 2

    The government on Friday extended the deadline to impose higher customs duties on 29 products, including almond, walnut and pulses, originating in the US. The department of commerce had recommend the finance ministry to extend the deadline for levying higher tariffs worth $235 million, once again as it is considering sending a delegation to the US to resolve bilateral trade issues.

  • Mar 12, 2019
  • Government notifies phased import duty hike on electric PV parts, lithium-ion cells

    The government has notified phased increase in basic customs duty on parts of electric passenger vehicles to be assembled in India to 15 per cent from April 2020 and 10 per cent on imported lithium-ion cells by April 2021 to promote domestic manufacturing of EVs. The notification is part of the road map under the phased manufacturing programme (PMP), and also entails doubling the basic customs duty on completely built units of electric buses and trucks to 50 per cent from April 2020.

  • Dec 17, 2018
  • Anti-dumping duty on Chinese chemical for 5 years

    The revenue department has imposed anti-dumping duty for five years on a Chinese chemical used in making detergents to guard domestic players from cheap imports from the neighbouring country.The levy on ‘Zeolite 4A' [Detergent grade] has been imposed on recommendations of Directorate General of Trade Remedies (DGTR) after conducting a probe in this regard.The duty in the range of USD 163.90-207.72 per tonne of the chemical will remain in force for five years (unless revoked, ..

  • Dec 15, 2018
  • Anti-dumping duty likely on Chinese chemical

    The government may impose anti-dumping duty for five years on a Chinese chemical used in dye and photography industry in order to guard domestic players from cheap imports from the neighbouring country. Imposition of the duty on 'Meta Phenylene Diamine' was recommended by the commerce ministry's investigation arm - Directorate General of Trade Remedies (DGTR) after conducting a probe in this regard.In its probe, the directorate has concluded that there has been continued dumpi ..

  • Dec 06, 2018
  • Heavy Industries Ministry proposes import duty cuts on more EV parts

    The Heavy Industries Ministry has proposed reducing customs duty on parts of electric vehicles which are currently not exempted from import tariff to the Department of Revenue, according to senior officials.With an aim to boost production of electric vehicles (EVs) in the country, the ministry has also suggested defining semi knocked down and completely knocked down kits used for assembling EVs for streamlining of customs duty.At present, key components for EVs, including battery, controller, charger, converter, energy monitor, electric compressor and motor, attract zero customs duty. On the other hand, parts including metals and plastics attract 28 percent basic customs duty.

  • Nov 23, 2018
  • Indirect tax mop-up in FY'19 may fall short by Rs 90,000 cr Report

    Indirect tax collections are likely to fall short by Rs 90,000 crore in the current fiscal on account of subdued GST mop-up and excise duty cut on petroleum products, an SBI research report said yesterday. According to the Budget Estimate, the government proposed to mop up Rs 7.4 lakh crore from the goods and services tax (GST) and Rs 2.6 lakh crore from Union excise duties. Excise duty was subsumed under GST, except on petroleum items and liquor & alcoholic products used for human consumption.

  • Nov 05, 2018
  • India to impose anti-dumping duty on uncoated paper import from 3 countries

    India may impose anti-dumping duty on certain kinds of uncoated paper from Indonesia, Thailand and Singapore for three years to protect interest of domestic companies against cheap shipments. The commerce ministry's investigation arm directorate general of trade remedies (DGTR) has recommended the duty after establishing in its probe that the dumping of uncoated paper from these countries are having impact on domestic players. The West Coast Paper Mills, Tamil Nadu Newsprint, Papers Ltd, Ballarpur Industries and JK Paper had filed an application before the directorate for initiation of the anti-dumping investigation.

  • Nov 01, 2018
  • 50 Indian items face heat as US revokes duty-free privileges on import of 90 products

    The US on Thursday revoked duty-free concessions on import of at least 50 Indian products, mostly from handloom and agriculture sectors, reflecting the Trump administration's tough stand on trade-related issues with New Delhi. The federal register issued a notification, listing out 90 products which were so far subject to duty-free provisions under the Generalized System of Preferences (GSP).

  • Oct 22, 2018
  • Anti-dumping duty levied on ‘flax yarn’ imports from China

    The Finance Ministry imposed definitive anti-dumping duty on certain ‘flax yarn’ — a linen yarn used in fabric industry — from China.Based on the recommendations of the Designated Authority in the Commerce Ministry, the revenue department imposed an anti-dumping duty that ranges from $1.30 per kg to $4.83 per kg depending upon the producer and exporter from China.The petition seeking anti-dumping probe on ‘flax yarn of below 70 Lea Count (43 Nm)’ from China was filed by Jaya Shree Textiles — a unit of Grasim Industries Limited (previously Jaya Shree Textiles) — Unit of Aditya Birla Nuvo Ltd)

  • Oct 20, 2018
  • Government imposes anti-dumping duty on certain steel products from China

    India has imposed anti-dumping duties of up to USD 185.51 per tonne for five years on certain varieties of Chinese steel to guard domestic players from cheap imports from the neighbouring country. The revenue department imposed the duty based on recommendations of the Directorate General of Trade Remedies (DGTR), according to a government notification. JSW Steel Ltd, Sunflag Iron & Steel Co, Usha Martin, Gerdau Steel India, Vardhman Special Steels and Jayaswal Neco Industries Ltd had jointly filed an application before DGTR for initiation of investigations and levying of anti-dumping duties on some steel products.

  • Oct 12, 2018
  • Govt raises import duties up to 20% on telecom equipment, components

    The government on Thursday raised tariffs on certain telecom equipment and components by up to 20 per cent, in its efforts to rein in the widening current account deficit (CAD). Set to go live from Friday onwards, the latest set of imports includes equipment used for industrial use as well as a few components for mobile devices. These had a total import bill of nearly $5 billion in 2017-18 (FY18). India imported $21 billion worth of electronics in FY18, led mostly by mobile phones and their components, making up the third-biggest chunk of the import bill after crude oil and gold.

  • Oct 09, 2018
  • India imposes anti-dumping duty for 5 years on nylon filament yarn import from Vietnam, EU

    India has imposed an anti-dumping duty of up to USD 719 per tonne for five years on import of nylon filament yarn from the European Union (EU) and Vietnam following recommendations by the commerce ministry’s investigation arm DGTR.”The anti-dumping duty imposed… shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the 6th day of October, 2018 and shall be paid in Indian currency,” the department of revenue has said in a notification.The Directorate General of Trade Remedies (DGTR) in its probe has stated that nylon filament yarn (multi filament) has been exported to India from these two regions below normal values, and the domestic industry has suffered material injury on account of such dumped imports.

  • Sep 28, 2018
  • Trimming current account deficit: Duty hikes to have marginal impact

    The government’s move to raise customs duties on 19 products, including consumer goods and aviation turbine fuel (ATF), to trim the current account deficit (CAD) and ease the pressure on the rupee will have only a limited impact, as demand is unlikely to fall meaningfully due to the upcoming festival season, said analysts. As such, at Rs 86,000 crore, imports of these items accounted for only 2.5% of total merchandise imports and 0.5% of nominal GDP in 2017-18. However, the move sends a signal that the country is willing to act to curb “non-essential imports”, they said.

  • Sep 27, 2018
  • Customs duty hiked on 19 products – Check what could get costlier

    Intervening to support a falling rupee, the government on Wednesday increased the import taxes (basic customs duty) on 19 items ranging from white goods, gold jewellery and aviation turbine fuel to footwear and certain plastic items by 2.5 to 10 percentage points. The move covering goods whose aggregate imports last fiscal were `86,000 crore could jack up the prices of these goods in the domestic market and make air travel costlier. While many of these items like air conditioners and refrigerators saw a reduction in the goods and service tax (GST) rates recently, domestic manufactures could now use reduced competition from imports to hike prices, analysts said.

  • Aug 08, 2018
  • Government doubles import duty on 328 textile items to 20%

    The government today doubled import duty on as many as 328 textile products to 20 percent to provide a boost to manufacturing of these items in the country. A notification to this effect was tabled by Minister of State for Finance Pon Radhakrishnan in the Lok Sabha. The notification said it seeks to "increase customs duty on 328 tariff lines of textile products from the existing rate of 10 percent to 20 percent under Section 159 of the Customs Act, 1962".

  • Jul 20, 2018
  • ECGC to halve export credit cover for banks

    In the backdrop of record claims payment of Rs.1,283 crore in FY2018, government-owned ECGC has decided to reduce export credit cover for banks to 50 per cent of the outstanding amount, against 65-75 per cent earlier, and revise insurance premium upwards. The export credit agency has also asked banks to seek its approval in cases where the working capital limits of their large exporter clients exceed Rs.600 crore. Of the total claims of Rs.1,283 crore paid out by ECGC in FY2018, banks accounted for a chunk (Rs.1,131 crore). In FY2017, the corporation paid claims amounting to Rs.885 crore.

  • Jun 21, 2018
  • India hikes customs duty on 30 items imported from US

    In a retaliatory move, India has hiked customs duty on several goods, including Bengal gram, lentils and artemia, imported from the US. The import duty hike would be effective from August 4, the Finance ministry said in a notification.The import duty on chickpeas and Bengal gram has been increased to 60 per cent, while that on lentils has been hiked to 30 per cent.The duty on boric acid and binders for foundry moulds has been hiked to 7.5 per cent, while that on domestic reagents was raised to 10 per cent.Duty on artemia, a kind of shrimp, has been hiked to 15 per cent.

  • Apr 03, 2018
  • Govt levies 10% import duty on key smartphone parts to push Make in India

    India has imposed a 10 per cent tax on imports of key smartphone components including populated printed circuit boards, which are at the heart of smartphones, according to a government document.The government's move on Monday confirmed a Reuters report from last week that the country was exploring new duties on the imports of populated printed circuit boards that include components such as processors, memory and wireless chips.A 10 per cent customs tax was also imposed on the imports of camera modules for phones and connectors.

  • Feb 05, 2018
  • Customs hike to hit $65 billion imports, may lead to WTO dispute

    The government's decision to increase import duty on a number of products will impact at least $65 billion worth of imports, and could even land the country in a trade dispute at the World Trade Organisation (WTO), experts say.The Union Budget has proposed higher customs duty on goods including mobile phones, completely or semi-knocked down automobile parts, electronics, capital goods, edible oils, footwear, imitation jewellery and juices, whose imports in the first seven months of this fiscal are valued at more than $38.3 billion. Higher import duties are intended to discourage imports from China and propel the Make in India mission forward, and domestic manufacturers have welcomed them.