Income Tax recovery orders to jewelers could lead to bankruptcies, frauds: IBJA

The Indian Bullion and Jewellers Association (IBJA) has requested a stay on Income Tax department’s recovery orders, saying it could lead to frauds and bankruptcies in jewellery industry. The jewellers’ body said that assessments were made without proper opportunities of being heard and even all evidences and records were shown to explain cash sales were rejected. The […]

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Secondary metal producers seek duty cut on imported scrap in the ensuing Budget FY 2020-21

Secondary metal producers have asked the government to cut customs duty on imported metallic scrap and curb cheap imports, arguing they provide jobs but need a level-playing field. The industry faces an inverse duty structure: It pays 2.5 per cent customs duty on imported metallic scrap of aluminium and copper; and 5 per cent on zinc and lead. However, […]

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CACP recommends dual price policy for sugar trade for farmers’ benefit

The Commission for Agricultural Costs and Prices (CACP) has recommended the government to frame a dual price policy for sugar trade in India for the benefit of farmers, reports Business Standard. Sugar prices have jumped marginally by Re 1-2 a kg in the wholesale markets due to lower production estimates in India and improving prospects for exports. With this increase, […]

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