Import duty News

Earlier, the government had reduced the basic import duty on masur to zero in July 2021, followed by a 10% exemption on the agri-infrastructure cess in February 2022. 

The country has more than 1.3 million rubber growers, with Kerala being a significant contributor to production, which totaled 8.39 lakh tonnes in the 2022-23 fiscal year.

Ahead of Budget 2024, revised import duties apply to various parts, including battery covers, main camera lenses, back covers, and other plastic and metal mechanical items, as well as GSM antennas.  

No duty cuts expected for importing electric vehicles; government focuses on production-linked incentives for auto industry with Rs 25,938 crore budget.

In 2018, the US imposed an import duty of 25 percent on steel products and 10 percent on certain aluminum products on grounds of national security.

Budget 2023: FM gives major announces major sop for the common man.

BMW iX SUV, i4 sedan and MINI electric to launch in 6 months BMW says reducing duties will create EV demand in India India imposes 100 percent duty on fully imported cars

In a bid to boost domestic manufacturing, the government is likely to go ahead with cut in import duty on raw material used in the fertiliser industry, sources said, adding that lower import duty on raw material like rock phosphate and sulphur used for manufacturing of DAP (Di ammonium phosphate) would help boost domestic production and cut in import bill.

Presently, customs duty on sugar is 50% and that on chana is 30%.

Government may scrap the 25 percent import duty on wheat if prices continue to rise, Food Minister Ram Vilas Paswan said on Friday.

Medical devices industry has strongly opposed the government's proposal to increase the import duty, saying it will increase healthcare costs for patients and hurt the Rs 50,000-crore industry.

With steps being taken up to resume India-EU FTA talks, automobile industry body SIAM Tuesday asked the government not to give in to the 28-nation bloc's demand to reduce import duties on fully-imported cars, even as German car maker Volkswagen came out in favour of such a cut.

To encourage use of alternative fuel, the government is contemplating withdrawing import duty on used cooking oil for conversion into bio-diesel which will help curb pollution, Union Minister

The government on Monday raised the import duty on three related products - ghee, butter and butter oil - from 30 to 40 percent with immediate effect, owing to a steep fall in global prices.

The government is likely to soon impose safeguard duty on imports of certain types of steel as it has found prima-facie evidence that surge in imports is hurting domestic producers.

Government on Friday imposed 10 percent import duty on wheat till March 2016 to curb shipments and liquidate poor quality grains lying in FCI godowns.

The government on Friday said it has not yet taken a decision to impose duty on wheat imports.

In a much needed relief for domestic producers, the government has increased the basic customs duty (BCD) on certain long and flat steel products by 2.5 percent.