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No tariff concessions for US imports: Govt - On His US Visit, Prabhu Will Raise Issues From Harley Bikes, Visas To Cap On Medical Devices.

09-06-2018

New Delhi: Ahead of commerce and industry minister Suresh Prabhu’s US trip for discussions with trade officials, the government has ruled out any tariff concessions for American imports, arguing that import duties are well within the limits agreed under WTO rules.

Sources told TOI read more »

Five Sudanese arrested with Rs. 2cr in dollars.

07-06-2018

Mumbai: The Air Intelligence Unit of the Customs on Tuesday arrested five Sudan nationals for allegedly smuggling US dollars equivalent to Rs 2 crore. Officials also arrested an Indian national with 1.2kg gold worth Rs 34 lakh that was concealed in a baggage trolley.

read more »

Man who smuggled in 100kg gold arrested.

07-06-2018

Mumbai: The air intelligence unit of customs has arrested an Indian national based in Singapore, who is believed to have smuggled in more than 100kg of gold.

The kingpin identified as Prakasham Kannian, who has been running the smuggling syndicate from Singapore, was arrested read more »

Govt may ease import norms for high-end cars, bikes, e-vehicles.

05-06-2018

New Delhi: Indian roads may see a rush of top-of-the-line electric vehicles, luxury cars, vans and superbikes, with the government all set to liberalise import norms by removing restrictions on price and engine capacities, as well as the mandatory local testing conditions.

The liberalisation read more »

At Rs. 94,000 crore, GST collection lower in Apr - Govt Draws Comfort From Better Compliance.

02-06-2018

New Delhi: Goods and services tax ( GST) collections were estimated at Rs 94,000 crore in April, higher than their monthly average but lower than the Rs 1 lakh crore mopped up in March.

While the collections are lower than the informal target of read more »

EFFECT OF PROTESTS - Govt promises to disburse exporters’ Rs. 20k-cr refunds.

30-05-2018

New Delhi: After sitting on GST refunds of close to Rs 20,000 crore, the government on Tuesday promised to clear the dues after a top industry lobby group protested against holding back of funds .

Federation of Indian Export Organisations (Fieo) president Ganesh Gupta read more »

GODOWNS RAIDED - Rs. 50cr ‘fighter drug’ used by ISIS terrorists seized.

29-05-2018

Mumbai: The directorate of revenue intelligence (DRI) on Sunday raided a godown near Dronagiri at JNPT and seized banned drug worth Rs 50 crore. DRI officials seized 6.09 crore sealed tablets and 2.6 tonnes of Tramadol tablets. The DRI late night on Saturday arrested three people including read more »

3 Taiwanese held with Rs. 1.8cr gold strapped to waist.

27-05-2018

Mumbai: The Air Intelligence Unit of the Customs on Saturday arrested three Taiwanese for allegedly smuggling 6 kg of gold worth Rs 1.75 crores hidden in their waists.

The Customs have arrested Chiu Chuang Chun, Lai Shu Hui Chiu and Tseng Chao Wei under read more »

India drags US to WTO on steel, aluminium tariffs.

24-05-2018

Geneva: India has launched a complaint against the US to challenge US President Donald Trump’s tariffs on steel and aluminium, a filing published by the WTO showed on Wednesday. Indian officials said last month that the government would open a WTO dispute if the country’s companies were read more »

Rs.2 crore Dubai gold smuggled in via Nepal.

20-05-2018

Mumbai: Directorate of Revenue Intelligence (DRI) on Friday busted a gang which had smuggled 7kg of gold bars worth Rs 2 crore from Dubai via Nepal.

Acting on a tip-off, officials laid a trap at LTT, Kurla, where they intercepted Habeeb Edaparambil, Sarfuddin Kothradan, read more »

Kerala youth held with Rs. 35L drugs at airport.

19-05-2018

Mumbai: Directorate of revenue intelligence (DRI) on Friday arrested a 22-year-old drug carrier from Kerala who was to take a flight from Sahar international airport to Riyadh. When his checked-in baggage was opened, officials found 43 plastic pouches containing red tablets.

“The tablets were read more »

Three arrested with gold worth Rs. 79 lakh.

19-05-2018

Mumbai: Airport Customs air intelligence unit (AIU) arrested an Air India transport services staff and two others in a 3kg gold smuggling case worth Rs 79 lakh on Friday.

The staffer, Arshad Khan, had collected the gold from a passenger, Anwar Ali, who had read more »

Kenyan held with 56kg of narcotic leaves worth Rs. 5cr.

18-05-2018

Mumbai: A 24-year-old Kenyan national has been caught for allegedly smuggling 55.8 kg of a banned drug called ‘khat’ or ‘mira leaves’ worth Rs 5 crore. It was probably smuggled from Ethiopia via Dubai.

Khat is a psychotropic substance prohibited under the Narcotic Drugs read more »

Customs agent held in Rs. 10cr duty fraud case.

17-05-2018

Mumbai: Directorate Revenue of Intelligence (DRI) on Wednesday arrested Customs agent Ashutosh Singh (32) in a Rs10crore duty drawback case. The accused, who had access to some senior Customs officials’ computers, would remove ‘alerts’ from suspicious persons’ names.

An ‘alert’ is issued after Customs read more »

IMPORTS UP 4.6% AT $40BN - Exports rise 5.2% in April, on pharma, engineering.

16-05-2018

New Delhi: Exports rose by 5.2% year-on-year to nearly $26 billion in April on back of good show by sectors like engineering, pharmaceutical and chemicals, according to the commerce ministry data. Imports during the month were valued at $39.6 billion, up 4.6% over April 2017.

read more »

Expedite GST practitioners’ registration: CBIC chief

11-05-2018

Mumbai: The GST came into effect nearly a year ago. But several indirect tax experts find that they still haven’t been approved as GST practitioners, despite having applied for registration months ago via the GST portal.

In this backdrop, the chairperson of the Central read more »

Buying Rs. 9 crore smuggled gold lands 2 bizmen in Customs net.

11-05-2018

Mumbai: The air intelligence unit (AIU) of airport customs arrested two businessman on Thursday for allegedly buying nearly 34 kg of smuggled gold worth Rs 9 crore over the last few months. The accused — Ismail Khatri and Manish Jain — have been sent to jail custody.

GST digital discounts may cost Rs. 15,000cr - Will Make Up Through More Transactions Falling Under Tax Ambit, Says Centre.

09-05-2018

New Delhi: The government has estimated that the Centre and the states may have to forgo up to Rs 15,000 crore in offering discounts of up to Rs 100 on GST for every digital transaction, including those done using credit or debit cards or mobile wallets and read more »

Sugar cess put up for review.

05-05-2018

New Delhi: Protest by some states, including Kerala, West Bengal and Andhra Pradesh, prompted the GST Council to order a review of the plan to levy a cess on sugar to “help” sugarcane growers as they complained that the move would only benefit Uttar Pradesh, Maharashtra and read more »

GST Council goes for 1 filing a month over 3 - Decides To Turn GSTN Into 100% Govt Co.

05-05-2018

New Delhi: The GST Council on Friday sought to remove one of the biggest irritants in the new tax regime by junking the current threestage return filing process and moving to one monthly return. And, unlike last year, when the return forms were rushed in at the read more »

GST tops Rs. 1L cr in April, shows greater compliance.

02-05-2018

New Delhi: Revenue from GST crossed the Rs 1-lakh crore mark in April, indicating stabilisation of the new tax reform measure that was implemented in July last year and an increase in compliance. The government has raised Rs 7.4 lakh crore in 2017-18 from GST.

read more »

Govt to keep petrol, diesel out of GST net.

01-05-2018

New Delhi: The government has opted to ignore petroleum minister Dharmendra Pradhan’s repeated plea to bring petrol and diesel within the ambit of goods and services tax (GST) and decided to put the plan on the backburner, arguing that the time is not ripe for the change.

Rs. 30L gold seized from aircraft.

01-05-2018

Mumbai: Nine gold bars, worth over Rs 30 lakh, were recovered from a Jet Airways flight at the international airport on Monday. Acting on a tip-off, sleuths of the Air Intelligence Unit of the customs searched the aircraft, which had arrived from Dubai, an official said.

read more »

Customs agent arrested in Rs. 10cr duty drawback racket.

29-04-2018

Mumbai: Directorate Revenue of Intelligence (DRI) on Saturday arrested the kingpin of the Rs 10-crore duty drawback racket, Arjun Goregaonkar, a customs agent.

According to investigators, the drawback, given as incentive for exports, was held back in some cases for investigation by the customs read more »

CA arrested in Rs. 1,000cr Geodesic laundering case, said to be ‘key link’.

28-04-2018

Mumbai: The enforcement directorate (ED) has arrested city-based chartered accountant Dinesh Jajodia in a Rs 1,000 crore money laundering case against Geodesic Ltd following a two-year probe. Jajodia is allegedly the key link in the case and ED officials are interrogating him to unearth the money trail.

Now, customs wants to grill hawala operator.

27-04-2018

Mumbai: Two days after the Enforcement Directorate (ED) arrested hawala operator Farooq Shaikh alias Farooq Paperweight in a money laundering case, the special intelligence and investigation branch (SIIB) of the customs on Thursday sought his interrogation for smuggling prohibited goods by wrongly declaring them as scrap. Sources said the read more »

ED moves to confiscate assets of Mallya, NiMo and Choksi - Will Approach PMLA Court To Declare Them ‘Fugitives’.

25-04-2018

New Delhi: Armed with powers provided in the just promulgated Fugitive Economic Offenders Ordinance, the Enforcement Directorate has swiftly moved to confiscate properties of businessmen Vijay Mallya, Nirav Modi and Mehul Choksi.

Sources said after deliberations which stretched over 48 hours, ED decided to read more »

9kg gold found under 2 seats in Dubai flight.

25-04-2018

Mumbai: The Customs found 9kg gold worth Rs 2.6 crore under two seats of an aircraft that arrived from Dubai on Tuesday at Chhatrapati Shivaji International Airport. The flight was to proceed on a domestic route.

Customs officials suspect that two passengers who had read more »

‘Duty-free shops at Delhi airport liable to pay GST’ - Shops Operate Within Country, Rules AAR.

24-04-2018

New Delhi: International passengers buying goods at airport duty-free shops here will have to pay GST, with the Authority for Advance Ruling (AAR) saying that such outlets at the Delhi International Airport are not ‘free from duties’ under the GST regime. In the earlier regime of excise read more »

Diesel smuggling on high seas busted - 20,000 Litres Of Oil Seized From Two Vessels; Six Arrested.

23-04-2018

Mumbai: Tightening of coastal security after the 26/11 attacks doesn’t seem to have helped end oil smuggling, which was the mainstay of many yesteryear gangsters of Mumbai. The police have seized nearly 20,000 litres of diesel, worth nearly Rs 14 lakh, from two vessels in two different read more »

Man wearing belt with 960gm gold powder caught at airport.

20-04-2018

Mumbai: Early this week, the CISF security personnel at Mumbai airport found out that a belt worn by a transit passenger was holding back more than it is supposed to. The bulging belt aroused suspicion, only to reveal that it was the carrier for gold powder being read more »

HC orders Customs to return goods seized from Parle store.

20-04-2018

Mumbai: In a major relief for Alfa, a store popular for imported goods in Vile Parle (West), the Bombay high court on Thursday ordered Customs officials to release all goods which they had seized during a raid conducted last week. The goods worth Rs1.5 crore, which included read more »

Promoting foreign varsities not an export, to incur GST.

19-04-2018

Mumbai: The Authority for Advance Rulings (AAR) has held that services performed by Global Reach Education Services, which promoted courses of foreign universities among prospective students in India, cannot be regarded as ‘export of services’. Thus, these services would attract GST.

Global Reach, based read more »

Man held for Rs. 55cr customs evasion.

19-04-2018

Mumbai: The Directorate of Intelligence (DRI) has arrested the proprietor of a city firm for misusing incentives for export to evade Rs55crore customs duty. The Vapi unit of DRI arrested Viral Mehta, a resident of Carmichael Road and the proprietor of Nirantar. Mehta has been remanded to read more »

TOTAL Rs. 62L GOLD FOUND - 10 gold bars left in aircraft toilet seized.

19-04-2018

Mumbai: Customs officials recovered 10 gold bars totally weighing 1.2 kg worth Rs 33.32 lakh, hidden in the toilet of an Air India flight that arrived from Abu Dhabi on Wednesday. The gold bars were found below the casing of the tissue paper.

Officials read more »

Govt to mandate single GST return a mth to ease burden - No Need For Computer-Based Buyer-Seller Matching.

18-04-2018

New Delhi: The government inched closer to putting in place a revamped return for goods and services tax (GST) to ease the burden on businesses by mandating only one monthly filing, with the supplier submitting the form and an alert going to the buyer.

read more »

BUDGET 2018 AND LEVY OF EXCISE DUTY (CVD) ON PETROL & DIESEL.

03-04-2018

As proposed in the Budget 2018, various duties of Central Excise on Motor Spirit (commonly known as Pet­rol) and High Speed Diesel (HSD) (hereinafter referred to as 'Petrol' and 'Diesel' respectively) have been revised with effect from 02-02-2018.  

(a) Basic Excise Duty (BED) read more »

TO CHECK EVASION - E-way bill rolled out for inter-state goods transit.

02-04-2018

New Delhi: Nationwide electronic or e-way bill system for inter-state movement of goods has been rolled out on Sunday, with GSTN officials saying that the platform is working smoothly. Karnataka is the only state which has implemented the e-way bill system for moving goods within the read more »

Trump pushes WTO towards irrelevance with China tariffs.

24-03-2018

Geneva: The handsome stone edifice that serves as the headquarters for the World Trade Organization rises like a fortress over Lake Geneva, projecting an air of impregnability. But lately the institution looks vulnerable, sowing worries that global commerce itself may be in jeopardy.

As read more »

Govt halves import duty on TV panel part to 5%.

24-03-2018

New Delhi: The government has slashed the duty on a key component of TV panel to 5% from 10% at present, giving relief to companies. TV makers said the move will drive in affordability and lead to creation of manufacturing jobs.

The 10% duty read more »

India may move WTO alone against US.

24-03-2018

New Delhi: India is likely to approach the dispute settlement body of the WTO on its own, questioning the duty hike on steel and aluminium products by the US, after American authorities made an exception for the European Union, Australia, Canada and Mexico late on Thursday evening.

Man tries to smuggle Rs. 10cr diamonds, held.

24-03-2018

Mumbai: A 35-year-old man, Saleem Basha, was arrested at the city airport by customs officials while trying to smuggle diamonds worth Rs 10 crore to Dubai on Thursday. Airport customs are questioning Basha and suspect that he was involved in a hawala transaction.

The read more »