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The import and export clearance takes a minimum of 4 days and in the unfortunate scenario, it takes maximum 10 days. And as per the reports, the estimated average time for import and export clearance is around 5.8 days. Now to give relief to the customs, the government took a big step.
During the Jaipur visit, a committee representing the Jewellers Association, Jaipur met Shri Suresh Prabhu, Honorable Union Minister for Commerce & Industry and told him their concern about the duties and taxes which are charged on the colored gemstone segment of the trade.
The GST Council will most probably bring down the 28% rate in its upcoming meeting by reducing the GST rate on construction items like – cement.
National Anti-Profiteering Authority and Hindustan Unilever Ltd. are at loggerheads again over the latter’s move of passing GST benefits by offering customers more grammage for the same price as a commensurate to price reductions.
Not so long ago, India celebrated 100% electrification of villages. A great feat indeed considering the fact we are a fairly developing nation with a robust GDP.
The National Anti-Profiteering Authority doesn’t want to involve on rate cut tactics of sellers. It just wants that the benefits of a rate reduction in Goods and Services Tax should reach the end users.
The NAA or the national Anti-profiteering Authority under GST has pulled up MNC’s for not compensating consumers with the benefits accrued from GST rate relaxations.
The Confederation of Indian textile industry chairperson stated that the factors such as an increase in import taxes on textiles and reduction of GST rates on synthetic clothes will surely boost the domestic cloths industry.
Amway, an MLM company, demanded the reduction in GST rate on Food Supplements urging the government that the preventives to the health problems should also be considered as important as medicines.
