On the other hand, the FICCI memorandum on steel states - "The current
import duty on stainless steel products in India is at 7.
The previous increase in
import duty had already resulted in a significant increase in refining volumes to the tune of 40 to 50 percent due to a shift from import of RBD palmolein (Refined bleached deodorised palmolein) which does not require further processing to CPO (Crude palm oil) which needs to undergo processing and refining at our facilities.
EO 21 - Modifying the nomenclature and rates of
import duty on certain information technology products under Section 1611 of the Customs Modernization and Tariff Act, in order to implement the Philippines' Tariff Commitments under the World Trade Organization - Information Technology Agreement
It was agreed that a variation in the customs duty (increase or decrease) on wheat, sugar and maize would be regulated and governed by formulae, also known as variable
import duty formulae, based on a reference price system.
The Ministry of Finance is particularly concerned about the impact of the higher
import duty on wheat on the price of bread and other staple food, but also mindful of the need to ensure policy certainty, food security and the financial health of the farming industry.
Finance Minister Ishaq Dar in his post budget press conference explained that budget 2015-16 is for the poor people of Pakistan and increase in the taxes on mobile phones is mainly targeting high end smartphones whereas the relief of waiver on
import duty will pass on to poor people who can only afford a cheap mobile phone.
India's commerce minister has suggested that the
import duty on gold be cut.
SUGAR turned bitter on Monday getting costlier by `60 per quintal at leading wholesale markets with the
import duty being raised from 15 per cent to 40 per cent.
Summary: New Delhi: The Indian government is likely to increase
import duty on jewellery from 10 .
The automaker has not set the timeline for the launch of the vehicle because of heavy
import duty rates and a sluggish market.
Under the concessional
import duty of 30%, the total duty incidence would fall around 80%, less than half off the current rates.
The Islamic Republic has doubled the
import duty on rice from 45 percent to 90 percent to block rice imports that Iranian rice growers complain are driving down prices.
