The government on Thursday informed the Rajya Sabha that efforts to revive sick cotton mills in Kanpur in Uttar Pradesh have failed and a revival plan for the knitwear sector has been prepared.
Ahmedabad: In what could be a major relief for numerous exporters awaiting export refunds after enactment of GST laws, the Gujarat high court has ordered the central government and the Central Board of Indirect Taxes and Customs not only to pay the export refunds to an export firm, but also directed the authorities to pay the due sum with 9% interest for the delay caused in the process.
The government may impose taxes and custom duty as high as 50 percent on products that are ordered from Chinese e-tailers to prevent them bypassing customs duty, according to a report by The Economic Times.
In an order that will offer some succour to exporters, the Gujarat High Court directed the Department of Revenue, Ministry of Finance to pay interest to a party at the rate of 9% per annum for delay in granting refund under the Integrated Goods and Services Tax (IGST) Act.
Work on modernisation of textile hub at E.K.M. Abdul Gani Textile Market complex (Gani market) at Panneerselvam Park at ₹ 51.59 crore began here on Thursday and is expected to be completed in 18 months.
Indian rupee on Friday weakened marginally against the US dollar tracking losses in its Asian peers.