Anti-dumping duty: The radial tyre makers of India has imposed anti-dumping duty on import of certain type of radial tyres used in buses and trucks to protect domestic manufacturers from below cost shipments from China for five years. The anti-dumping duty has been imposed in the range of USD 245.35 - 452.33 per tonne on tyres which used in buses and lorries/trucks.
Income audit: Companies and taxpayers who have to get their accounts audited will be required to submit their income estimates and tax liability for six months of the financial year to the I-T department by November 15. The Central Board of Direct Taxes (CBDT) has come out with a draft notification seeking stakeholders' comment on filing of Form 28AA by giving details of income and advance taxes paid.
RBI on defaulting companies: RBI has assured banks that they can classify priority loans extended to defaulting companies in the bankruptcy process as standard debt in a move aimed at ensuring that entities which can be revived are able to raise resources.
Geopolitical tensions: US President Donald Trump escalated his standoff with North Korea over its nuclear challenge on Tuesday, threatening to “totally destroy” the country of 26 million people and mocking its leader Kim Jong Un as a ‘rocket man'.
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