| Date: |
29-01-2011 |
| Subject: |
India Withdraws Decision to Levy Duty on Jute |
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The Indian government has withdrawn its decision of imposing 14 per cent duty on export of jute and jute goods from Bangladesh to India, a commerce ministry spokesman told BSS Friday.
Earlier, the Indian government decided to impose 14 per cent Countervailing Duty (CVD) and additional countervailing Duty (ACVD) on the same.
The Bangladesh High Commission in India and Commerce Ministry confirmed the news of waiving the tax on jute export.
The decision to waive the tax has resolved the deadlock over exporting jute and jute goods to India.
The Indian government had issued a circular imposing the 14 per cent tax on January 18. But Bangladesh's commerce ministry opposed the Indian decision to levy CVD and ACVD on jute goods.
Source : thefinancialexpress-bd.com
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