NEW DELHI: In a move to put a check on edible oil prices, the govt on Wednesday slashed the Basic Customs Duty (BCD) on crude edible oils – soybean, sunflower and palm – from 20% to 10%.This revision has widened the import duty differential between crude and refined edible oils “from 8.75% to 19.25%”, as…
NEW DELHI: Industry associations Solvent Extractors’ Association (SEA) and Indian Vegetable Oil Producers’ Association (IVPA) have welcomed the government’s decision to reduce the basic customs duty on crude edible oils to 10 per cent, calling it a timely intervention that supports domestic refiners and discourages imports of finished products.Announced on Friday, the policy reduces the…
IndiGo is facing penalties exceeding Rs 2.76 crore from customs authorities in Ahmedabad and Chennai, but the airline has confirmed it will challenge the demands. In regulatory disclosures on Tuesday, IndiGo said it received penalty orders of Rs 2.20 crore from the Principal Commissioner of Customs in Ahmedabad and Rs 56.2 lakh from the customs…
International courier giant DHL has announced a temporary suspension of package deliveries exceeding $800 in value from companies to individual recipients in the United States, citing delays triggered by recent changes to US customs regulations.In a statement, DHL said, “As a result of recent US Customs regulatory updates, we are experiencing multi-day transit delays to…
DHL Express, the logistics arm of Germany’s Deutsche Post, will temporarily suspend global business-to-consumer (B2C) shipments exceeding $800 to recipients in the United States starting April 21, citing recent changes in US customs regulations, Reuters reported.According to a notice posted on DHL’s website — metadata of which indicated it was compiled on Saturday — the…
In a recent update, a University of Minnesota-Twin Cities graduate student was detained by US Immigration and Customs Enforcement. The student was detained at an off-campus residence on Thursday, according to a letter sent by the university to its students, staff, and faculty. The letter stated that the university is actively working to gather more…
MUMBAI: The customs department stuck to its stand on its demand of Rs 12,000 crore duty from Skoda Auto Volkswagen India, saying it wants to bring the company in line with the law and with other auto importers, who are paying the same 30% duty on such imports. Additional Solicitor General N Venkatraman said the…
Cursing is coursing through society. Words once too blue to publicly utter have become increasingly commonplace. “Language is just part of the whole shift to a more casual lifestyle,” said Timothy Jay, a professor emeritus of psychology at the Massachusetts College of Liberal Arts in North Adams, Mass. Dr. Jay has spent a career studying…
NEW DELHI: Ahead of PM Modi’s upcoming visit to the US, the Union Budget may have paved the way for Harley diplomacy between the two countries with Finance Minister Nirmala Sitharaman slashing the import duty on bigger bikes — the move set to directly benefit the iconic American bike company Harley-Davidson — paying heed to…
The Budget slashed customs duty not just for big motorcycles with engines above 1,600cc, but even in case of smaller ones, offering relief to those buying imported Honda, Suzuki, Ducati and KTMs. The fully built units will now face 40% customs duty instead of 50% earlier. For 1,600cc motorcycles and above, customs duty was cut…