imports

India-China Trade Reaches All-Time High

January 14, 2023

The trade between India and China reached an all-time high of USD 135.98 billion in 2022, even as New Delhi’s trade deficit with Beijing crossed the USD 100 billion mark for the first time, according to data released by the ..

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All-time high GST collections in April 2022

May 3, 2022

India’s gross Goods and Services Tax (GST) revenues hit a new high of ₹1.68 lakh crore in April 2022. For the first time, gross GST collection has crossed the ₹1.5 lakh crore mark. Is the growth in collection uniform across ..

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

May 19, 2021

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 ..

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UK-India $1.4 billion investment deal

May 4, 2021

The Government of India and British Government recently finalised a one billion pound of trade and investment with India. This is expected to create 6,500 jobs in the UK. The deal has been finalised ahead of the virtual summit between ..

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IGST on Import of Oxygen Concentrators reduced

May 4, 2021

The Ministry of Finance recently cut the IGST on import of oxygen concentrators for personal use to 12%. Earlier it was 28%. IGST is Integrated Goods and Services Tax. The decision was announced by the Central Board of Indirect taxes ..

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Import of 17 medical devices allowed

April 30, 2021

The Government of India recently allowed import of seventeen medical devices to provide relief to the COVID-19 patients. However, the importer should make mandatory declarations under Legal Metrology Rules, 2011. Which devices were allowed? The Department of Consumer Affairs has ..

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