RapNet


Rapaport News

 

Financial-Legal

 

Advanced search
Latest Articles
Videos
Features
News
Mining
Rough Markets
Polished Markets
Manufacturing
Retail

India Eases Rules on Controversial Excise Tax

Jul 28, 2016 9:23 AM   By Rapaport News
Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... The Indian government relaxed rules on a 1-percent excise duty on jewelry that led to a six-week strike earlier this year.

Under the new terms, businesses with revenue of up to $2.2 million (INR 150 million) are exempt from the tax, whereas the previous cut-off was $1.8 million (INR 120 million).

The change comes after the government set up a committee to interact with the jewelry trade over the tax. The government also accepted several other recommendations made by the committee, including that companies with revenue of less than $14.9 million (INR 1 billion) from manufactured goods will not be audited for the excise duty.
Tags: Excise duty, India, Rapaport News, Strike, tax
Similar Articles
Union BankIsrael’s Union Bank Sells Diamond Portfolio
Jul 14, 2020
Israeli finance company Peninsula has agreed to buy Union Bank’s...
JVC Releases Guide to FTC Rules
Israel’s Bank Leumi Eyes Return to Diamonds



Call Us: 1-702-893-9400
Member License Agreement   RapNet Trading Rules & Code of Conduct    Privacy Policy  
  
twitter twitter
About Rapaport
Advertise with us