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CBIC CUSTOMS DUTY SCHEME
Centre eases export compliance for shipments up to Rs 3 lakh, seeks 5-year RoDTEP extensionExporters will not need a registration certificate for shipments valued up to three lakh rupees. This change reduces compliance burdens for...- NITI seeks easier access to geological data, capital for small exploration companiesNiti Aayog recommends government support for junior exploration firms and increased private participation. Streamlining approvals and fores...
- CBIC cuts paperwork in deferred customs duty scheme to boost MSME participation and ease cash flowThe CBIC is simplifying its deferred customs duty scheme for manufacturers. Paperwork has been reduced from ten documents down to just thre...
- Air India expands use of Salesforce's AI platform to streamline customer servicesAir India is expanding its use of Salesforce’s Agentforce AI platform to automate customer service tasks, including email resolution, passe...
- India clears 642-car import quota from UK under India-UK trade agreementIndia's Directorate General of Foreign Trade approved seven companies to import 642 cars. These imports will occur under the India-UK free ...
- CBIC to step up outreach as EMI scheme struggles to attract manufacturersThe CBIC will conduct outreach programs to encourage EMI scheme adoption. Data and documentation requirements for the scheme have been subs...
- Customs should accelerate AI usage to reduce cost, physical interface with trusted taxpayers: CBIC chiefIn a progressive move, the Customs department plans to ramp up its deployment of artificial intelligence and real-time analytics to limit d...
- Leather, footwear exports may hit $5.5 billion as UK, EU trade pacts boost growth: CLE Chairman JunejaIndia's leather exports are projected to reach USD 5.5 billion by 2026-27. Trade pacts with the UK and EU will significantly boost these fu...
- Customs duty hike impact: Gold imports contract to USD 2.3 billion in AugustIndia’s gold imports declined significantly in August following an increase in customs duty, while silver imports rose sharply during the m...
- Prashant Jain’s 3P India among anchors as Hero Motors raises Rs 300 crore ahead of IPOHero Motors secured Rs 300 crore from anchor investors before its upcoming IPO. The company plans to raise Rs 1,000 crore through a mix of ...
- Govt constitutes task force to bring back Formula 1 to IndiaA government task force will examine reviving Formula One and motorsports in India. This group will assess taxation issues and other growth...
- Revolut confirms sensitive customer data breach after fake government requestsRevolut said in a statement that the breach affected a "very limited" number of customers, who had been notified by the company. It did no...
- EU to allow 2.5 lakh Indian cars at concessional duty under FTA; quota to reach 4 lakh in 10 yearsThe European Union will permit 2.5 lakh Indian passenger vehicles annually at a reduced 8 percent duty. This import duty concession will gr...
- The “other Hero” comes to Dalal Street: A Munjal family story with a market twistHero Motors, the Munjal family-controlled automotive technology company, is set to enter Dalal Street with a Rs 1,000 crore IPO. The compan...
- Subhash Chandra Garg cherry-picking figures from two different bases: CBICGarg, who has been at the centre of the recent controversy over the government's GDP growth estimates, had questioned the Centre's claim of...
- GST growth comparisons can’t be 'apples and oranges' says CBIC; hits back at 'misleading' claimsThe CBIC stated that comparing GST revenue figures using different tax bases is misleading. Growth calculations must be made on a like-for-...
- CBIC releases import clearance checklist for cosmetics, drugs, and medical devicesThe CBIC has introduced a new checklist for customs officers reviewing imports. This standardized process aims to streamline clearances for...
- Govt mandates manual verification of imported drugs and medical devices due to SWIFT 2.0 system gapCustoms officers must now manually check import documents for healthcare products. This manual verification applies even to facilitated imp...
- Customs portal aims to curb divergent assessment practicesThe Central Board of Indirect Taxes and Customs has introduced an innovative digital repository designed to assist importers and customs br...
- CBIC eases documentation norms under Eligible Manufacturer Importer schemeThe CBIC has simplified enrolment under the Eligible Manufacturer Importer scheme, cutting required documents from 10 to three. From Septem...
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