Central government allows import of 3 lakh MT of raw sugar at 25% duty
The Dollar Business Bureau The Central government has allowed imports of 3 lakh metric tonnes of raw sugar at a concessional rate of 25% tariff duty. The sugar can be imported only through southern ports such as Tuticorin, Chennai in Tamilnadu, Karaikal in Puducherry, Mangalore in Karnataka, Kakinada, Vishakhapatnam and Gangavaram in Andhra Pradesh. According to the notification released by the DGFT No- 27/2015-2020 dated September 7, 2017, the validity of the tariff duty of 25% is for 60 days ie until the 1st week of November. The move to allow the imports of raw sugar by the government comes after sugar mills in Tamilnadu sought permission to import the commodity duty-free. Harvesting of sugar in the state has come down drastically due to ...
Union cabinet gives its nod for hike in import duty on sugar to 40%
The Dollar Business Bureau The Union Cabinet, chaired by the Prime Minister of India, on Wednesday, gave its nod for import duty hike on sugar from the current 25% to 40%. This move by the government comes a day after the government’s decision to ease norms for the export of sugar to the United States and the European Union. According to an official release, the government’s move to increase import duty on sugar is in view that it would prevent any imports in case of depreciation in the international prices of sugar. The government has further decided for the withdrawal of the ‘Duty Free Import Authorization (DFIA)’ scheme for sugar. A scheme under which the exporters would import duty-free, permissible ...
