Related News

While Thomas Edison’s cylinders were the first to play recorded sound, they were impractical – leading Emile Berliner to come up with a better way to play music: The gramophone,

Elon Musk’s SpaceX to launch Falcon 9 on February 2 from Vandenberg SpaceX is preparing to launch a Falcon 9 rocket carrying 25 Starlink satellites to low Earth orbit from

The Sun turns, but not in the way a solid object would. It has no hard surface, no fixed edge to follow. What scientists describe as solar rotation comes from

A coconut may seem like a simple tropical fruit, but it is actually a well-designed natural packaging. You will be surprised to know that the water inside a coconut is

NASA delays Artemis II wet dress rehearsal due to bad weather (IANS) NASA has delayed a key prelaunch test for its Artemis II mission after bad weather affected conditions at

Bright white rocks. Scattered across the rusty red plains of Mars. NASA’s Perseverance rover spotted them in Jezero crater which the scientists have been staring at them ever since. At

Trending News

In today’s digital age, the opportunity to make money online without any initial investment is more accessible than ever before. Whether you’re a student looking to earn some pocket money,

In today’s digital world, make money online has become a dream many want to turn into reality. Whether you’re looking for a side hustle or aiming to build a full-time

JSW Cement, the building materials arm of Sajjan Jindal-led JSW Group, has reduced the size of its upcoming initial public offering (IPO) to Rs 3,600 crore and will open the

The agricultural Gross Value Added (GVA) growth is expected to moderate to 4.5% in the first quarter of FY26, down from 5.4% in the preceding quarter, according to a report

Foreign portfolio investors (FPIs) turned net sellers in the Indian equity market in July, pulling out Rs 17,741 crore amid rising global trade tensions. According to data from NSDL, this

Avenue Capital Group-backed Asset Reconstruction Company (India) Ltd (ARCIL) has filed its draft red herring prospectus (DRHP) with markets regulator Sebi on Friday to raise funds through an initial public

GTRI alleges irregularities in duty free import scheme

Word Count: 544 | Estimated Reading Time: 3 minutes


GTRI alleges irregularities in duty free import scheme

NEW DELHI: Think tank GTRI on Sunday alleged massive irregularities in the duty free import-authorisation (DFIA) scheme, with unscrupulous elements taking advantage to import duty free walnuts, saffron, and lithium ion batteries for purported use to manufacture biscuits, pickles and tractors.Some of these goods face high levies and the scheme was being misused as the licences could be traded. “In reality, they were never used in production. A mix of vague policy definitions, lax enforcement, and judicial interpretations divorced from reality has enabled a cartel of traders to bleed the exchequer, while regulators look away. What was supposed to be a lifeline for exporters is now a legalised smuggling channel,” it alleged.When contacted, the commerce department said that there are safeguards available to check against misuse and only payment of basic customs duty is exempted under the scheme. “In DGFT there is a permanent mechanism of norms committees across sectors for looking into complaints of misuse of SION (standard input output norms) norms and misdeclaration of inputs used. The SIONs are being reviewed across sectors and more specifically food sector to identify if there are any SIONs which have scope for unintended benefits,” it said.





Source link

Most Popular Articles