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The top court said denying the mother her share in her father’s property, when the custom was silent, would violate her right to equality vis-à-vis her brothers or those of her legal heirs vis-à-vis their cousin.
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The industry body representing non-ferrous metal traders plans to file a writ petition against penalty notices issued by the customs department, saying they militate against ASEAN FTA provisions.
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Copper importers have received retrospective show-cause notices from the customs department, prompting industry to send a representation to the Finance Ministry seeking relief for the traders.
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India’s Customs Authority for Advance Rulings (CAAR) has improved timelines since 2021. However, procedural delays persist. A shift to CAAR 2.0, with internal technical units and digital reforms, can achieve rulings within 30 days, enhancing global trade efficiency
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As part of an internal study by the Finance Ministry and NITI Aayog, the government is analysing tariff lines between India and the US to identify areas where the former can lower duties irrespective of domestic capacities. However, this is not related to the April 2 deadline for Trump’s reciprocal plan.
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While most customs processes have already transitioned to digital platforms, the refund process remains manual.
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If the government strikes the right balance between domestic industry needs and international trade obligations, Budget 2025 could lay the foundation for a more efficient, self-reliant, and globally competitive India.
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Agarwal pointed out that logistics costs in developed nations are typically 8-9 percent of the GDP to stress on India’s need to narrow the gap further
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The clearance time for AEO-certified businesses is approximately 40 percent lower compared to non-certified entities
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The global cross-border e-commerce exports are projected to grow from USD 1 trillion in 2023 to USD 8 trillion by 2030 on account of the ability of online firms to deliver overseas products to consumers within 1-2 days, matching the speed and convenience of local supplies.
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The ministry has set a target of increasing GST collections by 11 percent in FY25, against a GDP growth of 10.5 percent.
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Under customs, inverted duty structure is seen for several items including leather and textiles and engineering goods.
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'Upon inspection, customs officers discovered that the pockets of the trousers the passenger was wearing were packed with six canvas drawstring bags and sealed with tape,' the China customs department stated.
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From deforestation and carbon emissions to biodiversity loss, the impact of illicit substances on ecosystems is significant.
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India will allow imports of laptops and tablets without licences where the shipment has been ordered before Aug 3 and the customs has been ordered to clear such consignments.
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The accused was intercepted after her arrival from Addis Ababa, Ethiopia on June 25.
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The liquor bottles and drugs destroyed were either lost goods or seized goods at the Delhi airport over a period of two-plus years.
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Government agencies have detected numerous cases of attempts being made to smuggle in gold and silver. Between April 2022 and February 2023, 3,992 kg of smuggled gold was seized as compared to 2,172 kg in 2021-22.
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The Global Trade Research Initiative (GTRI) also suggested retaining import duty on components; removal of inverted duty issues; and reduction of customs duty slabs to 5 from 25 at present to avoid confusion and minimise litigation.
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Central Board of Indirect Taxes & Customs Chairman Vivek Johri said the government's cuts in duties will make collections on customs and central excise challenging for the fiscal.
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The finance minister was speaking at the DRI's 65th Foundation Day. "DRI should look at whether there is any relation between higher gold imports and higher detection of gold smuggling. Customs duty on gold does not determine the extent of smuggling, which seems to have its own cycle pattern.”
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The government imposed a ban on the export of broken rice with effect from September 9 to increase domestic availability.
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The discovery was made after CISF officials saw images of the buttons in the passenger’s bags on the X-ray scanner monitor and decided to investigate.
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The revenue authority can approve a controlled delivery of import or export of such suspect shipments, with due consultation with authorities of foreign countries.
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Forex vs forex card. Cables vs adapter. Reasons to carry Ziplock bags, and more pro-tips from a very frequent flyer.
