gold and silver

Gold and silver are set to become more expensive as the government has changed the duty structure on precious metals from specific to value-linked. The change will enable the exchequer to rake in an additional 600 crore rupees during the remaining months of this fiscal. As per the changes, customs and excise duty will now be levied on the value of the precious metals instead of a fixed amount, meaning that the incidence of duty will move up with the rise in prices of the.. Full Article

India’s exports for the month of April- September 2011 have registered a growth of 52%, at US $ 160 billion. Interacting with the media persons here today, Shri Rahul Khullar, Commerce Secretary, informed that during the period April-September 2011, the imports were US $ 233.5 billion with a growth of 32.4% and a Balance of Trade stood at US $ (-)73.5 billion, during the same period. Shri Khullar also informed that India’s imports in September 2011 were US $ 34.6 bil.. Full Article

The drawback rates provided for gold & silver jewellery will only be applicable for exports made through the ports /custom houses as specified in para 4A.12 of the Hand Book of Procedures (vol.1), 2004-2009 after examination by the jewellery expert appraisers/superintendents to ascertain the quality of gold/silver and the quantum of gold/silver in the exported items. It may be noted that the drawback rate provided for gold & silver jewellery is a specific rate in terms o.. Full Article

States have finally reached a consensus on having two basic rates under the Goods and Services Tax, slated to be rolled out on April 1, 2010. There will be one standard rate of taxation and another low rate of taxation for essential commodities. Full Article

Meaning:- A SHARIAH Index in an index of companies that are found to be compliant with the Islamic canonical law or the Shariah. Most Shariah indices which have been created so far have been based on an existing or an underlying index, whose constituents have been screened for compliance by a board that is well-versed [...] Full Article

Two Mumbai policemen and a retired income tax official, who attempted to extort money from a jeweller at Navsari near Surat in Gujarat, were caught in the act by residents on Thursday . The three were handed over to the Navsari police, who arrested them for forgery , cheating and extortion. Full Article

Rates of Gold and Silver for Wealth Tax valuation Purpose - Valuation of Jewellery- Jewelry Includes: Ornaments made of gold, silver, platinum or any other precious metal or any alloy containing one or more of such precious metals, whether or not containing any precious or semi-precious stones, and whether or not worked or sewn into any wearing apparel. Full Article

The following concessions/ changes have also been made: i. Full exemption from excise duty has been provided to goods falling under Chapter 68 manufactured at the site of construction for use in construction work at such site. This was demand of the construction industry. Earlier it was available to goods manufactured from specified material but [...] Full Article