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New Delhi: The Centre on Wednesday exempted from customs duty 18 defence-related imports, including flight motion simulators, ship-launched missiles, rockets with calibres over 100 mm, remotely piloted military aircraft, and all parts, spares, tools, and accessories used for artillery weapons, rifles, aircraft, and missiles.The duty exemption will also cover military transport aircraft, deep submergence rescue vessels, unmanned underwater vessels, and high performance batteries for drones, among others, a notification issued by the Central Board of Indirect Taxes and Customs (CBIC) said. These items will now attract nil customs duty and nil integrated goods and services tax (IGST). The move will support the country's defence modernisation efforts.These changes are in line with the recent reduction of GST on these products from 18% to nil.Additionally, the government has provided relief from IGST on certain imports, including works of art for public exhibition in museums or galleries, memorials of a public character intended for public places, and antiques or antiquities, if they are certified by the culture ministry. Earlier there was exemption only on basic customs duty.

Centre on Wednesday announced exemption of customs duty on 18 categories of defence-related imports. The exemption list includes high-value equipment including flight motion simulators and their parts, military transport aircraft, deep submergence rescue vessels, unmanned underwater vehicles, high-performance batteries for drones, ship-launched missiles and rockets with a calibre of over 100 mm. The relief will also cover remotely piloted aircraft for military use. According to the notification, the duty waiver extends to parts, spares, tools and accessories for a wide range of weapon systems, including artillery guns, rifles, aircraft and missiles.Exemption on defence imports in line with GST rejigThe official notification, issued under the Customs Act, 1962 and the Customs Tariff Act, 1975, amends the July 2019 customs exemption list to include the new defence items. It specifies that the duty-free imports will apply to a range of specialised equipment, from target motion simulators and parts of high-altitude communication systems to low-noise amplifiers for missile systems and sub-assemblies of integrated underwater defence platforms.The list also covers ejection seats for fighter aircraft, communication devices including software-defined radios, air diving and rebreather sets, sonobuoys for naval air assets, as well as technical documentation related to these goods. Exemptions further extend to parts, sub-assemblies, spares, accessories, tools, testing equipment and literature for artillery weapons, rifles, aircraft and missiles — with some specific exclusions such as the 12.7mm SRCG, 155mm/45 Cal Dhanush, L-70 Gun, 84mm RL Mk-III, AK-630 Naval Guns, Light Machine Guns and MAG Guns.The notification states that these amendments will come into force on September 22, 2025.The GST Council at its September 3 meeting approved a wide-ranging overhaul of the goods and services tax, part of what the government and press have described as “GST 2.0” or a broader tax makeover. The Council consolidated slabs and reordered rates for many consumer items.Under the GST changes, the 12% and 28% slabs were effectively removed for many items: a large swathe of daily-use goods has been moved to a 5% slab while a simplified 18% slab has been created for a broad set of other goods and services. The Council also carved out a new top rate for certain luxury items — with specific changes that include tax cuts for small cars and two-wheelers under 350cc to 18% and higher rates for SUVs, large motorcycles and yachts. Several food and grocery items were singled out for sharp relief, and the package was described by the finance ministry as designed to ease household budgets.

Sebi will "engage" with the government to allow banks, insurance companies and pension funds to invest in non-agriculture commodity derivative markets, its chairman Tuhin Kanta Pandey said on Wednesday.He said the capital markets regulator is also looking at a proposal to allow foreign portfolio investors to trade in non-cash settled, non-agricultural commodity derivative contracts."We will also engage with the government to consider banks, insurance companies and pension funds to trade in these (non-cash, non-agricultural) markets," Pandey said, while speaking at the event organised by MCX.By December-end, Sebi will include commodity-specific brokers in a common reporting mechanism for compliance reports, Pandey pointed out.Stating that commodity derivative markets play a very important role for the economy, Pandey said India aspires to be the "price-setter" instead of being a "price taker" at the global level.There is a need to look at how to broaden the acceptance of Indian benchmarks at home and abroad, he said, stressing that in volatile times like the current one, the exchanges can act as a good tool of price insurance and help protect profit margins.The career bureaucrat-turned-securities regulator specifically pointed out that the recent doubling of tariffs on aluminium and copper imports by the US "directly affects" India's export landscape."In such a volatile environment, a robust derivatives market provides a powerful shield, allowing Indian producers and consumers to hedge against global price shocks," Pandey said.He said the market becomes very essential in the case of critical minerals like lithium, cobalt, nickel and rare earth elements, which are building blocks of green energy and posed a challenge."What can our markets do as India pursues its goal of self-reliance in critical minerals? Can we develop financial instruments that help finance and de-risk the exploration and mining of these vital resources?" Affirming that Sebi will continue to strengthen the integrity and safety of commodity markets, Pandey underlined that real-time margin collection and continuous monitoring are "non-negotiables" for the regulator.Strengthening India's commodity markets is "high" on Sebi's regulatory agenda, he said, listing out some measures in this regard.It has already constituted a committee to recommend measures for deepening the agriculture commodity segment, Pandey said, adding that the watchdog will also constitute a working group for developing the non-agricultural commodity space, including metals.The regulator's comments led to buying on the MCX's counter, and the price per share closed 3.51 per cent up at Rs 7,919.45 apiece on the BSE against a 0.38 per cent gain on the benchmark.

Images of US President Donald Trump alongside convicted sex offender Jeffrey Epstein were projected onto Windsor Castle on Tuesday evening, just as Trump arrived in Britain for his state visit. The projections were displayed on a tower of the castle, part of what protesters called a public stunt demanding attention to the president’s past ties to Epstein. The projections included not only photographs of Trump and Epstein but also a letter allegedly from Trump to Epstein, news clips about the Epstein case, and images of Epstein’s victims. The visuals were accompanied by a soundtrack questioning the nature of their relationship. Protestors also earlier unfurled a large banner near Windsor Castle depicting Trump and Epstein. The demonstrations appeared timed to coincide with the president’s formal welcome by King Charles at Windsor, part of the pomp that accompanies a state visit. The campaign group behind the stunt was confirmed to be Led By Donkeys. In a statement, they said they “projected a piece of journalism on to a wall,” and described their action as an effort to force public conversation about Trump’s links to Epstein.Arrests that followed: Who got caught, on what chargeThames Valley Police confirmed that four adults were arrested in connection with the Windsor projection incident. They are being held “on suspicion of malicious communications.”The arrests occurred soon after the projection was shut down. The police described the projection as an “unauthorised projection,” labeling it a “public stunt.” They said officers responded swiftly to stop it. Chief Superintendent Felicity Parker emphasised: “We take any unauthorised activity around Windsor Castle extremely seriously.” From the group Led By Donkeys, a spokesperson criticised the arrests as overreach. They said, “it is rather Orwellian for a piece of journalism, which raises questions about our guest’s relationship with America’s most notorious child sex trafficker to lead to arrests.” They also said it was the first time anyone from the group had been arrested after doing one of their projections. As of reporting, the four individuals remain in custody, and the investigation is ongoing. Authorities are gathering more evidence, including the circumstances under which the material was projected and details about who organised, funded, or participated in the stunt.Why this visit matters: Grim shadows and grand gesturePresident Trump’s second state visit to the UK carries heavy symbolic weight. It is unprecedented for a U.S. President to be invited by a British monarch for two full state visits. The ceremonial fanfare—from carriage processions to military flypasts—underscores both nations’ desire to display the strength of their “special relationship.” But the visit does not only represent pageantry. It comes at a delicate moment politically: UK Prime Minister Keir Starmer’s government is under pressure to deliver economic investment, manage post-Brexit trade relations, and navigate foreign policy tensions over Ukraine, Israel, and other global issues. Trump’s presence in Britain is seen as an opportunity, but also a risk. Adding complication: Trump’s past associations with Jeffrey Epstein have recently come under renewed scrutiny. Earlier this month, Democrats in the U.S. House of Representatives released a letter purportedly written by Trump to Epstein, decades ago. The letter’s authenticity is denied by the White House. The projection of that letter, the images of victims, and the resurfacing of old headlines make the state visit not just about current diplomacy, but about reckoning with past controversies.