Search results
Results From The WOW.Com Content Network
DEPB (Duty Entitlement Pass Book ) is an export incentive scheme of Indian Government provided to Exporters in India. [1] Duty Entitlement Pass Book Scheme (DEPB) is an export incentive scheme. The objective of DEPB is to neutralise the incidence of Customs duty on the import content of the export product.
The Central Board of Indirect Taxes and Customs (CBIC), formerly the Central Board of Excise and Customs, is a statutory body under the Department of Revenue, Government of India. It oversees the administration of indirect taxes , including customs duties, excise duties, and the Goods and Services Tax (GST).
The level of customs duties is a direct indicator of the openness of an economy to world trade. However, there may also be import barriers that are not based on the levy of duties. The following table shows the tariff rate, in percentages, according to United Nations Conference on Trade and Development (UNCTAD) , [ 1 ] World Trade Organization ...
The Director-General advises the central Government in the formulation of Foreign Trade Policy and is responsible for carrying out that Policy. At present, the Director-General formulates Foreign Trade Policy and Hand Book of Procedures of Foreign Trade Policy and ITC (HS) Classifications of Import and Export Items.
India plans to increase import duties on more than 50 items including electronics, electrical goods, chemicals and handicrafts, targeting about $56 billion worth of imports from China and ...
Custom duty is an indirect tax levied on import or export of goods in and out of country. [12] When goods are imported from outside, the tax known as import custom duty. when goods are exported outside India, the tax is known as export custom duty. The tax collected by Central Board of Indirect Taxes and Customs. In February 2020, as part of ...
In the year 2024–2025, gold and its finished items (HS code 71) were the second-largest traded items with 55.846 billion US$ worth imports and 41.692 billion US$ worth re-exports after value addition, and a significant amount of this Gold is being imported from Japan as Gold Chemical Compounds to save duty and import tax free under India ...
When the DFTP scheme was introduced in 2008, India committed to eliminating customs duties on over 85% of tariff lines (for items in the Harmonized System 6-digit level of classification), reducing duties on the basis of a prescribed margin of preference [a] for 9% of tariff lines, and maintaining duties on the remaining 6% tariff lines over a period of 5 years.