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PM Mega Integrated Textile Regions and Apparel

To pump up Make in India, custom duty on LCD and LED television panels slashed

In a bid to boost local manufacturing, the Centre has cut the customs duty on Liquid Crystal Display (LCD) and Light Emitting Diode (LED) TV panels by half to 5%. In Union Budget, the government had doubled the customs duty on imported LCD and LED TV panels to 15% from 7.5%.

Arun Jaitley asks tax officials to become ‘trade facilitator’ for easing business

Union Finance Minister Arun Jaitley reiterated that the government aims to provide an easy environment for doing business in India. He appealed the officers to perform the role of trade facilitator to cut down costs, time and bring efficiency to the system.

Consumers to get benefit of GST rates reduction; revise MRP rates

The benefit of the GST rate reduction should be passed to the consumers said the Central Board of Excise and Customs (CBEC) to the Industry leaders. The changes were applicable from the midnight of 14th November after the 23rd GST council meeting was held on 10th November and the decision to reduce the GST rate on 178 products was taken by the committee.

Import Duty on wheat doubled to 20 percent

The Import duty on wheat has been doubled to 20 percent by the government so that the cheap shipments should be curbed down and in the ongoing Rabi season positive price signal will be given to the farmers in which they will be benefited.