Import Tax On Some Textile Products Doubled To 20%

Import tax on some textile products has been doubled to 20 per cent, the government said in a statement on Tuesday, increasing duty on fabric-related commodities for the second time in a month. The move is expected to provide relief to the domestic textile industry, which has been hit by a rise in imports of … Read more Import Tax On Some Textile Products Doubled To 20%

Jewellery body urges govt to reduce import duty on cut & polished diamonds

The Gems & Jewellery Export Promotion Council (GJEPC) today said it has urged the government to reduce import duty on cut and polished diamonds announced recently. “We have urged the government to roll back import duty on cut & polished diamonds from 5 per cent to 2.5 per cent. We have also urged the government to review … Read more Jewellery body urges govt to reduce import duty on cut & polished diamonds

Jewellery industry wants 5% import tax; PAN card limit to Rs 5 lakh for Budget 2017-18

The domestic gems and jewellery industry, which went through a lot of turmoil in 2016, has urged the government to increase the mandatory PAN card limit to Rs 5 lakh and above and reduce the import duty on gold to atleast 5 per cent in the Union Budget 2017-18. All India Gems and Jewellery Trade … Read more Jewellery industry wants 5% import tax; PAN card limit to Rs 5 lakh for Budget 2017-18

Dumping duty on Chinese Cloth import shall not make much difference for MSMEs; duties on apparels & garments would: Expert

The Union Textiles Minister Smriti Irani has said that the government is working on a policy to stem the flow of cheap cloth into India and is even considering imposing a “dumping duty” on cloth imported from China. “I cannot make any announcements about it here but I will move the policy in the Parliament. … Read more Dumping duty on Chinese Cloth import shall not make much difference for MSMEs; duties on apparels & garments would: Expert