customs duty Current Affairs, GK & News

Exemption of Customs Duty on Cotton Import

To reduce the cotton prices, the Indian government has decided to exempt all customs duties on the imports of cotton. This exemption announced by the government will be benefiting the textile chain- fabric, yarn, made-ups, and garments as well as provide relief to the consumers and the textile industry. Overview: The removal of 5 percent ..

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Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021: IGCR, 2017 Customs Rules changed

The Government of India recently brought changes to the Customs (Imports of Goods at Concessional Rate of Duty) rules, IGCR 2017 to boost trade facilitation. This was done through the Customs (Import of Goods at Concessional Rate of Duty) Amendment Rules, 2021. What are the major rules changed? The absence of the newly rules had ..

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