Page 2 - Import Duty

Policy incoherence

Import management system for IT is licence raj by another name

Updated On : 25 Sep 2023 | 10:15 PM IST

Chicken leg imports will continue to attract 100% duty, says govt

The statement could assuage some of the concerns gripping the Indian poultry industry ever since India decided to lower tariff on some poultry items from the US

Updated On : 12 Sep 2023 | 8:43 PM IST

Decision to cut import duty on US apples to harm Himachal farmers: Cong

The Congress on Tuesday condemned the central government's decision to reduce import duty on Washington (American) apples from 70 per cent to 50 per cent and said it would harm the interest of farmers of Himachal Pradesh. In a statement issued here, All India Congress Committee (AICC) spokesperson Kuldeep Singh Rathore, who is also the sitting Congress MLA from Theog assembly seat (apple belt), said that the decision would cause harm to the apple industry of Himachal Pradesh. "The apple growers are already under severe crisis due to an increase in the production cost following a rise in prices of pesticides, fungicides, labour and other packing materials caused due to inflation under the BJP rule," he added. Prime Minister Narendra Modi has also failed to keep his promise of increasing import duty on apples up to 100 per cent as promised during the election campaign in Himachal Pradesh in the previous Lok Sabha Election campaign, he said. He demanded that the Union government shoul

Updated On : 27 Jun 2023 | 2:49 PM IST

20% duty removal on apple imports to have zero impact on farmers: Official

The decision to remove 20 per cent retaliatory customs duty on imported American apples will have a "zero" impact on Indian farmers as the government has sufficient policy space to support growers if there is any implication of the move, a senior government official said on Monday. Additional Secretary in the Department of Commerce Peeyush Kumar said that India is not giving anything "extra" by removing this duty and it was not that "we have opened a floodgate" for American apples. In fact, it is a win-win deal for India as it restores market access for domestic steel and aluminium products in the American market, which was impacted due to the imposition of high duties by the US in 2018. The decision to remove these additional duties was part of an agreement reached between India and the US, during the recent visit of Prime Minister Narendra Modi to Washington and New York. India and the US have also agreed to terminate six trade disputes at the World Trade Organisation (WTO). Thes

Updated On : 26 Jun 2023 | 3:04 PM IST

US market share in apples, almonds, and walnuts plunged in five years

Similarly, the US-dominated as the source of shelled walnuts for India at 70% share in FY18 with Chile at a distant second with a 29.7% share

Updated On : 25 Jun 2023 | 11:04 PM IST

Top headlines: India seeks import duty relaxation, US flags policy barriers

Business Standard brings you the top headlines at this hour

Updated On : 19 Jun 2023 | 8:30 AM IST

Govt reduces import duty on refined soybean, sunflower oils to 12.5%

The government has reduced the import duty on refined soybean and sunflower oils to 12.5 per cent from 17.5 per cent with effect from Thursday to boost the domestic availability and check prices, a finance ministry notification said. Usually, India imports 'crude' soybean and sunflower oils and not their 'refined' form. Yet, the government has reduced the duty on refined soybean and sunflower oils. With this reduction, the effective duty on refined edible oils stands at 13.7 per cent, including cess on social welfare. The effective duty on all major crude edible oils is 5.5 per cent. Commenting on this, Solvent Extractors' Association of India (SEA) Executive Director B V Mehta said the move may have some temporary impact on market sentiments but unlikely to attract imports. "Basically, government wants to keep the prices of edible oils under check. Even with less duty difference between crude and refined soya and sunflower oils, chances of shipment of refined soya and sunflower o

Updated On : 15 Jun 2023 | 3:29 PM IST

DGTR recommends increasing import duty on iron alloy from S Korea for 2 yrs

The commerce ministry's investigation arm DGTR has recommended increasing customs duty on 'Ferro Molybdenum', used in steel, nickel, cobalt alloys, from South Korea in view of spurt in the imports under a free trade agreement. The Comprehensive Economic Partnership Agreement (CEPA) between the two countries was implemented in January 2010. In October last year, India initiated the probe to ascertain if a spurt in the imports from South Korea is hitting the domestic producers. After concluding the probe, Directorate General of Trade Remedies (DGTR) said the imports have increased in absolute terms and in relation to Indian production and total imports. The imports of Ferro Molybdenum, DGTR, said increased when the customs duties were eliminated. Imports of the products from Korea have increased and constitute increased imports within the meaning of the rules and Korea-India CEPA, it said in a notification adding that due to the spurt in the inbound shipments, domestic industry has

Updated On : 05 Jun 2023 | 4:49 PM IST

Import duty case: Japan urges India to rescind decision of appeal in WTO

Japan on Tuesday expressed disappointment over India's decision to appeal against a ruling of the WTO trade dispute settlement panel on import duties on certain information and technology products, and has urged to withdraw it, a Geneva-based official said. On May 25, India appealed against a ruling of the World Trade Organization's (WTO) trade dispute settlement panel which stated that the country's import duties on certain information and technology products are inconsistent with the global trade norms. The ruling followed a dispute filed by the European Union, Japan and Taiwan against these duties in WTO. Japan flagged its concerns during the meeting of the dispute settlement body in Geneva. "Japan has urged India to rescind its decision (concerning appeal)" the official said. The dispute panel of WTO on April 17 said in its report that import duties imposed by India on certain information and technology products violate global trading norms. The appeal was filed by India in t

Updated On : 30 May 2023 | 10:32 PM IST

Central govt should increase import duty on Apple from 50 to 100%: Rathore

Himachal Congress president Kuldeep Singh Rathore on Friday said the central government should increase the import duty on Apple from 50 to 100 per cent to protect farmers. The statement came days after the government banned the import of apples if their imported price is less than Rs 50 per Kg. Rathore, in a statement, maintained that the apple growers are not getting remunerative prices because apple is being imported in large quantities from other countries. "BJP leaders should...urge him (the Prime Minister) to increase the import duty from 50 to 100 per cent," he added. The Himachal Pradesh BJP on Tuesday hailed the central government's decision to ban the import of apples if their imported price is less than Rs 50 per kilogram, saying it will benefit the apple growers in the state. The state BJP had raised the issue with the Centre many times, and finally, the government has accepted the suggestion, former chief minister and BJP leader Jai Ram Thakur said in a statement. Th

Updated On : 12 May 2023 | 3:36 PM IST

Challenging SC judgment on validity of pre-import condition may not succeed

Exporters complain that some authorities are talking of applicability of the pre-import condition for advance authorisations issued during that period

Updated On : 07 May 2023 | 11:21 PM IST

CBIC waives interest charges on EXIM traders due to payment woes

Besides, since importers are not able to clear their goods at the ports, the CBIC has urged shipping lines to waive detention and demurrage charges till April 10

Updated On : 06 Apr 2023 | 11:11 PM IST

Govt exempts import duty on drugs for personal use to treat rare disease

The government has exempted basic customs duty on all drugs and food for special medical purposes imported for personal use for treatment of rare diseases. The import duty waiver will come into effect from April 1. Also, the government has exempted Pembrolizumab (Keytruda), used in treatment of various cancers, from basic customs duty. Drugs/Medicines generally attract basic customs duty of 10 per cent, while some categories of life saving drugs/vaccines attract a concessional rate of 5 per cent or Nil. "The Central Government has given full exemption from basic customs duty on all drugs and Food for Special Medical Purposes imported for personal use for treatment of all Rare Diseases listed under the National Policy for Rare Diseases 2021," a finance ministry statement said. Food for Special Medical Purposes is a food formulation intended to provide nutritional support to persons who suffer from a specific disease, disorder or a medical condition, as a part of their dietary ...

Updated On : 30 Mar 2023 | 11:39 AM IST

Govt removes basic customs duty of 10% on whole tur to check local prices

The government has removed the basic customs duty of 10 per cent on whole tur or pigeon peas as part of steps to check the local prices of the lentil. In a notification dated March 3, the Central Board of Indirect Taxes and Customs (CBIC) said import duty on Tur (whole) will be 'Nil'. The reduced duty is effective from March 4. However, import of tur, other than whole tur, continues to attract basic customs duty of 10 per cent. The exemption to whole tur import duty comes amidst lower tur production estimates in the country. Tur production is pegged lower at 3.89 million tonnes in the 2022-23 crop year (July-June) from 4.34 million tonnes in the previous year as per the initial projection made by the agriculture ministry. Tur is a kharif crop. Fearing likely shortage, the government in January said it has made an advance plan to import about 10 lakh tonnes higher quality of tur dal via private trade this year to meet the domestic requirement.