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Tag: customs on imported chemicals

After furore, Customs Department removes punitive tax on laboratory chemicals

Posted on August 1, 2024 By admin
After furore, Customs Department removes punitive tax on laboratory chemicals

Image used for : M. Moorthy | Photo Credit: M. Moorthy In a relief to scientists and researchers across the country, the Finance Ministry has clarified that all imported ‘laboratory chemicals,’ except denatured ethanol, will be taxed at 10% instead of 150% as was first proposed in the Union Budget of July 23. Imported laboratory…

Read More “After furore, Customs Department removes punitive tax on laboratory chemicals” »

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After furore, Customs Department removes punitive tax on laboratory chemicals

Posted on August 1, 2024 By admin
After furore, Customs Department removes punitive tax on laboratory chemicals

Image used for : M. Moorthy | Photo Credit: M. Moorthy In a relief to scientists and researchers across the country, the Finance Ministry has clarified that all imported ‘laboratory chemicals,’ except denatured ethanol, will be taxed at 10% instead of 150% as was first proposed in the Union Budget of July 23. Imported laboratory…

Read More “After furore, Customs Department removes punitive tax on laboratory chemicals” »

Science

150% customs duty on lab chemicals alarms scientists

Posted on July 30, 2024 By admin
150% customs duty on lab chemicals alarms scientists

 chemicals that usually cost ₹1,00,000 would now be bought for ₹2,50,000. File | Photo Credit: Getty Images Three digits have thrown scientists across the country into a tizzy. Budget documents, made public earlier this week, show that the Basic Customs Duty on laboratory chemicals, a critical component of research, has been hiked to 150% from…

Read More “150% customs duty on lab chemicals alarms scientists” »

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