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January 19, 2010
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Import duty on capital goods proposed to address domestic industry cost disadvantage and market displacement from exemptions.
Impose duty on imported capital goods to correct competitive imbalance created by zero customs duty and related exemptions. These concessions have driven a substantial rise in capital goods imports and produced a cost disadvantage to domestic manufacturers of approximately 11-22 percent, enabling foreign suppliers to capture market share; the association recommends reinstating or imposing import duties to restore competitive parity.
January 19, 2010
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Tariff values for edible oils, brass scrap and poppy seeds set for customs valuation under a government notification.
Notification No.6/2010-Customs (N.T.) dated January 15, 2010 fixes tariff values in US dollars per metric tonne for specified import goods for customs valuation. The notification lists edible oil categories with values (noting most are unchanged) and sets values for brass scrap (all grades) and poppy seeds, providing the formal unit values for customs valuation purposes.
January 15, 2010
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Market Access Initiative scheme provides project-based assistance to export promotion bodies targeting specific products and markets.
The Market Access Initiative establishes a targeted export-promotion framework using a Focus Product - Focus Country approach and provides project-based assistance to Export Promotion Councils, Trade Promotion Organizations and Apex Chambers of Commerce for market-specific promotional projects. The scheme is funded through central allocations with annual budget estimates and reported year-wise expenditures, and administrative and application details are published by the commerce ministry.
January 13, 2010
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Export and transfer controls on dual use services and technology strengthened; quantitative import safeguards and enhanced enforcement follow.
The Bill broadens the Act to include services and technology within the definitions of import and export, empowers the Central Government to impose quantitative import restrictions as safeguards where increased imports cause or threaten serious injury to domestic industry, and integrates controls on specified goods, services and technology with the Weapons of Mass Destruction Act. It strengthens enforcement by expanding search, seizure and penalty recovery powers to cover services and technology, permits suspension of licences with later hearing, credits penalties to the Consolidated Fund, and enhances review powers of the Director General.

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Acts Income Tax