Search Result for : Finance Ministry

The Dollar Business Bureau In order to safeguard the domestic industry from cheap imports, the Government has imposed anti-dumping duty on the imports of glassware from China and Indonesia. “The Central Government, after considering the final findings of the designated authority, hereby imposes definitive anti-dumping duty on the subject goods,” the Ministry of Finance said in a notification (No.22/2018-Customs ADD) on Wednesday. “The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication of this notification in the Official Gazette and shall be paid in Indian currency,” the notification said. The Directorate General of Anti-Dumping & Allied Duties (DGAD) said in its findings that the subject goods have ...

The Dollar Business Bureau The Government has imposed anti-dumping duty, upto $2.69 per kg, on the imports on fishing net from China and Bangladesh, in order to safeguard the domestic industry from cheap imports. Whereas, in the matter of ‘Fishing Net’ falling under tariff item 5608 11 10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) originating in, or exported from China PR and Bangladesh into India, the Designated Authority, has recommended imposition of definitive anti-dumping duty (ADD) on imports of the fishnet, the Finance Ministry said in a notification (No.20/2018-Customs-ADD). “The anti-dumping duty imposed under this notification shall be effective for a period of five years (unless revoked, superseded or amended earlier) from the date of publication ...

The Dollar Business Bureau The Goods and Services Tax (GST) revenue collections have marginally dropped to Rs.86,318 crore for the month of January, from Rs.86,703 crore in the previous month, according to the data released by the Government on Tuesday. “The total revenue received under the GST for the month of January 2018 (received in January/February up to February 25, 2018) has been Rs.86,318 crore,” said a statement released by the Ministry of Finance. Till February 25, around 1.03 crore taxpayers have been registered under the new indirect tax regime, of which 57.78 lakh taxpayers, 69% of total taxpayers, have filed GSTR 3B (summary form) returns for the month of January.  The last date for filing of GSTR 3B return for the month of ...

The Dollar Business Bureau The direct tax collections has surged by 18.2% to Rs.6.56 lakh crore during April to December period of current financial year as compared to the same period a year ago. Direct taxes comprises of income tax, wealth tax and corporation tax paid by companies. “The provisional figures of Direct Tax collections up to December, 2017 show that net collections are at Rs.6.56 lakh crore which is 18.2 per cent higher than the net collections for the corresponding period of last year,” Finance Ministry said in a statement on Tuesday. “The net direct tax collections represent 67% of the overall budget estimates of direct taxes of Rs.9.8 lakh crore for the financial year 2017-18,” it said. The gross collections shown an increase ...

Dated 22nd December, 2017 | Copy of | Finance Notification   Auction for Sale (Re-issue) of Government Stock (GS) Government of India (GoI) hereby notifies sale(re-issue) of the following Government Stocks:    Subject to the limit of ` 15000 Cr, being total notified amount, GoI will have the option to retain additional subscription up to ` 1000 Cr against any of the above security. The sale will be subject to the terms and conditions spelt out in this notification (called „Specific Notification). The Stock will be sold through Reserve Bank of India, Mumbai Office, Fort, Mumbai- 400 001 as per the terms and conditions specified in the General Notification F.No.4(13)–W&M/2008, dated October 8, 2008 issued by Government of India. Allotment to Non-competitive Bidders ...

The Dollar Business Bureau In order to protect the interests of farmers, the Government on Thursday imposed an import duty of 30% on masoor (red lentil) and chana (chickpeas) to support domestic prices. Earlier, there was no import duty on these pulse varieties and these could be freely imported. “The Government has decided to impose 30% import duty on chana (chickpeas) and masoor (lentils), with immediate effect,” Ministry of Finance said in a statement. “Production of chana and masoor is expected to be high during the forthcoming Rabi season, and cheap imports, if allowed unabated, are likely to adversely affect the interest of the farmers,” it added. According to the Ministry of Agriculture data, plantings of gram were 14% higher on yearly basis till the end of last ...

The Dollar Business Bureau A parliamentary committee has recommended that the Government should extend the duty drawback rates for exporters that were prevailing prior to the Goods and Services Tax (GST) regime, until June 2018 or till the Department of Revenue comes out with revised rates. While tabling its report in Parliament on the impact of GST on exports, the Standing Committee on Commerce chaired by Naresh Gujral said that this step will enable the exporters in overcoming the problems which they are currently facing besides this will also help them to take a long-term outlook while negotiating their export orders. The Committee said that a formal mechanism must be put in place for redressal of grievance of exporters. “In order to bring relief to ...

The Dollar Business Bureau In order to facilitate the businesses, the Government on Monday extended the last date for filing GSTR-2 for July to November 30 and date for filing GSTR-3 to December 11, 2017. Earlier, October 31 was the due date for filing GSTR-2, whereas November 11 was the last date for filing of GSTR-3. “The last date for filing of GSTR-2 for the month of July, 2017 is October 3, 2017,” the Finance Ministry said in a statement. “The competent authority has approved the extension of filing of GSTR-2 for July, 2017 to November, 2017, for facilitation of businesses and all taxpayers,” it said. GSTR-2 is monthly tax returns for the purchases that have to be matched with the sales return or GSTR-1. ...