SEPTEMBER 2018
INDIA DOUBLES CUSTOMS DUTY ON 328 TEXTILE TO 20%
The government today doubled import duty on as many as 328 textile products to 20% to provide a boost to manufacturing of these items in the country. The notification said it seeks to “increase customs duty on 328 tariff lines of textile products from the existing rate of 10 per cent to 20%…under Section 159 of the Customs Act, 1962”.
AUGUST 2018
DGTR FOR SAFEGUARD DUTY ON SOLAR PANEL IMPORTS.
The Directorate General of Trade Restrictions (DGTR) has recommended imposing a safeguard duty on solar panels and modules imported from China and Malaysia for two years – 25% for the first year, 20% for the next six months and 15% in the last phase, citing injury to domestic industry. Around 90% of the solar panels used in Indian projects are imported from China and Malayasia, mainly because imported equipment comes 25-30% cheaper than locally made ones.
JULY 2018
IMPORT DUTY DOUBLED FOR OVER 50 TEXTILE PRODUCTS
The Central Board of indirect Taxes and Custom has doubled import duty on over 50 textile products — like jackets, suits and carpets – to 20%, a move that is aimed at promoting domestic manufacturing. It has also raised the ad-valorem rate of duty for certain items. The imported products which have become expensive include woven fabrics, dresses, trousers, suits and baby garments. The duties have been doubled on most of the textile products. It will help boost domestic manufacturing but least developed countries including Bangladesh would continue to enjoy duty free access to Indian markets.
DGTR FOR SAFEGUARD DUTY ON SOLAR PANEL IMPORTS
The Directorate General of Trade Restrictions (DGTR) has recommended imposing a safeguard duty on solar panels and modules imported from China and Malaysia for two years – 25% for the first year, 20% for the next six months and 15% in the last phase, citing injury to domestic industry. Around 90% of the solar panels used in Indian projects are imported from China and Malayasia, mainly because imported equipment comes 25-30% cheaper than locally made ones.