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Government extends the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017

Capital Market 

Based on representations received from sugar mills/trade associations, has extended the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017. This would mean that prospective mill/refiner can complete the import of raw sugar on or before 30th June, 2017. Further, to facilitate the imports from logistic point of view, Vishakhapatnam (Andhra Pradesh), Gangavaram (Andhra Pradesh) and Karaikal (Puducherry) ports in the South Zone have been added. However, the zone-wise import quantity restrictions shall remain unchanged. In order to ensure timely availability of sugar in the country and to maintain domestic price at reasonable level, the importing mills/refineries have been given a time line of two months from the date of bill of entry or the date of entry inwards, whichever is later, to convert raw sugar into white/refined sugar in their respective mills/refineries.

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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Government extends the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017

Powered by Capital Market - Live News Based on representations received from sugar mills/trade associations, has extended the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017. This would mean that prospective mill/refiner can complete the import of raw sugar on or before 30th June, 2017. Further, to facilitate the imports from logistic point of view, Vishakhapatnam (Andhra Pradesh), Gangavaram (Andhra Pradesh) and Karaikal (Puducherry) ports in the South Zone have been added. However, the zone-wise import quantity restrictions shall remain unchanged. In order to ensure timely availability of sugar in the country and to maintain domestic price at reasonable level, the importing mills/refineries have been given a time line of two months from the date of bill of entry or the date of entry inwards, whichever is later, to convert raw sugar into white/refined sugar in their respective mills/refineries.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22

Government extends the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017

Based on representations received from sugar mills/trade associations, has extended the time line for availing TRQ benefit (duty free) of 5 Lakh MT of raw sugar import from 12th June to 30th June, 2017. This would mean that prospective mill/refiner can complete the import of raw sugar on or before 30th June, 2017. Further, to facilitate the imports from logistic point of view, Vishakhapatnam (Andhra Pradesh), Gangavaram (Andhra Pradesh) and Karaikal (Puducherry) ports in the South Zone have been added. However, the zone-wise import quantity restrictions shall remain unchanged. In order to ensure timely availability of sugar in the country and to maintain domestic price at reasonable level, the importing mills/refineries have been given a time line of two months from the date of bill of entry or the date of entry inwards, whichever is later, to convert raw sugar into white/refined sugar in their respective mills/refineries.

Powered by Capital Market - Live News

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

image
Business Standard
177 22