Page 26 - Basic Customs Duty News Today : Breaking News, Live Updates & Top Stories | Vimarsana

01 Pic: Shutterstock The Tiruppur Exporters Association (TEA) has termed the Union Budget 2021-22 as 'pragmatic' as it addresses issues of all sectors at a time when the Indian economy is getting back to normalcy. The association also welcomed the announcement of setting up seven mega textile parks in the country over a period of 3 years with 'plug and play' facilities. Union minister of finance and corporate affairs Nirmala Sitharaman presented the Budget in Parliament today. TEA president Raja M Shanmugham welcomed the fund allocation to roads and highways infrastructure facilities,...

Mixed reactions to Union Budget in Erode Updated: Updated: Industrialists say their expectation has not been met Share Article Industrialists say their expectation has not been met The Union Budget presented on Monday evoked mixed response from the people and industrialists as they said it failed to fulfil their expectations. B. Kandavel, coordinator, Tamil Nadu Federation of Powerlooms’ Associations, said that they were against imposition of anti-dumping duty on viscose spun yarn and were expecting the announcement in the budget. “But instead, Basic Customs Duty on nylon fiber and yarn...

Four options for manufacturing in India A leg-up for manufacturing   -  THE HINDU× The Manufacturing Under Customs Bond scheme can lead to substantial savings for firms, but it has its pain points In November last year, the government announced the Production Linked Incentives (PLI) scheme for promoting manufacturing in 10 sectors. The initial response indicates that many new large-scale factories would soon be set up in the PLI supported product groups. The government provides four broad options for manufacturing in India. Selection of appropriate option results in substantial cost savin...

Union Budget 2021: Higher budgetary allocation needed to improve precarious financial position of DISCOMs The distribution segment is one of the weakest links of the power sector in India, reeling under financial distress Amol Kotwal January 29, 2021 21:38:00 IST Power line. Image courtesy Tony Boon/Wikimedia Commons In a few days time, the Union Finance Minister will present Budget 2021. There are a lot of expectations from the Budget, especially as it comes after the p...

The 9 percent tax is available for certain goods that fall mainly within the categories of agricultural and utility items, while the 13 percent tax applies to other goods subject to the VAT like manufactured goods. Taxable services provided by foreign entities or individuals in China are subject to 6 percent of VAT as before. The import VAT can be calculated based on the following formula: Import VAT = Composite Assessable Price × VAT Rate                      = (Duty-Paid Price + Import Duty + Consumption Tax) × VAT Rate                     = (Duty-Pa...