Development Cess News Today

India has allowed its central bank to import gold without paying import levies, the government said in a notification issued late on Tuesday.... -March 12, 2024 at 11:30 pm EDT - MarketScreener

MUMBAI: India has allowed its central bank to import gold without paying import levies, the government said in a...

PESHAWAR: The Khyber Pakhtunkhwa caretaker cabinet on Tuesday allowed the Provincial Culture and Tourism Department to outsource the PTDC properties under public private partnership mode and took a...

The Caretaker Cabinet of Khyber Pakhtunkhwa met here Tuesday under the chairmanship Chief Minister Syed Arshad Hussain Shah took a number of decisions pertaining to the issues of day-to-day affairs of the province and of urgent nature

The central government has announced an increase in import duties on gold and silver coins, and other items made of precious metals. Effective January 22, the duty on these items will rise from the existing 10 per cent to 15 per cent, comprising a basic customs duty of 10 per cent and an additional Agriculture Infrastructure and Development Cess (AIDC) of 5 per cent.

“Gold or silver findings” means a small component like hook, clasp, clamp, pin, catch, screw back used to hold the whole or a part of a piece of jewellery.

The government has increased import duties on gold and silver finding and coins to 15%, including basic custom duty and ADIC. The new rates will be effective January 22. The government also increased import duties on silver dore, bars, and articles to align with gold and platinum import duties.

A logistics centre in Colombo Port with Chinas CM Ports, Sri Lanka Ports Authority and Access Engineering will get a 15-year tax holiday, according to a gazette notice.

Indias governments at the central and state level, particularly those ruled by Opposition parties, share a rather fraught relationship. And while politics plays its role, the power the Centre exerts over the availability and sharing of monetary resources is also a considerable factor.

The Central Board of Indirect Taxes and Customs (CBIC) has exempted the imports of yellow peas from basic customs duty (BCD) and Agriculture Infrastructure and Development Cess (AIDC) up to March 31,...