Relief to consumers as govt cuts basic import duty on edible oil by 5%
The Cente says the decision to cut duty will augment the earlier measures taken to reduce the prices of edible oils in the domestic market
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January 2019
Gold import duty hike to raise retail jewellery prices and smuggling
Overall taxes on gold now rise sharply from 14% to around 18.45%.
Centre hikes customs duty on gold to 15%, imposes cess on fuel, ATF exports
FinMin remains silent on additional revenue these tweaks will rake in, but it points out these measures will not impact domestic prices of petrol, diesel and ATF
‘Price volatility, taxes may deter Indian consumers’
Financial and geopolitical uncertainty along with low interest rates worldwide, however, will boost demand for gold, says WGC report.
Auto industry expects GST cuts and EV push from the interim Budget
The industry, grappling with high raw material costs, also wants a reduction in the import duty on aluminium and steel.
