Page 8 - Import Duty

Import duty cut to help moderate commodity prices

Edible oil players cry foul, say cut was needed for CPO and not for refined oil, duty cut in wheat to benefit south Indian flour millers

Govt cuts import duty on wheat, potato and palm oil

Edible oil import duty cut despite kharif production set to rise 40% in 2016-17

Govt cuts import duty on wheat, potato & palm oils

Central Board of Excise and Customs said import duty on potatoes has been reduced from 30 per cent to 10 per cent till October 2016

Duty abolition on mobile components to impact local manufacturing

Reduction of import duty on various mobile handset components may hurt local manufacturing. While lower import duties may reduce handset prices by up to ten per cent, it may discourage manufacturers to procure such components locally.Budget 2016-17 had increased import duties on various components like printed circuit board (PCB), battery, charger and earphones. The move was aimed at discouraging imports. On May 5, department of revenue under Ministry of Finance withdrew some part of the import duty. Currently, import duty on speakers, chargers/adaptors, battery and earphones stands at 12.5 per cent, compared with 29.44 per cent announced in the Budget.Sources say manufacturers have been lobbying for abolition of the duty since March. Since most companies are not prepared to set up component manufacturing facilities in India, they had asked the government to reduce import duties.However, industry sources say, abolition of the two per cent import duty that was imposed during the Budget,

Industry opposes import duty hike on medical devices

Government had increased import duty on certain specified equipment to 7.5% from 5% in January