Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Govt not considering cut in import duty on rubber: Official.

Date: 20-02-2024
Subject: Govt not considering cut in import duty on rubber: Official
The government is not considering any cut in import duty on rubber as of now as the differential between the local and international prices is maintained, a senior official said on Monday. "We have a differential already maintained for the imports that we are getting vis-a-vis the local production.

"If you see the local price vis-a-vis international price...so there has been a differential maintained on account of that import duty... So I do not think there is any rethink on reducing import duties as of now," Additional Secretary in the commerce ministry Amardeep Singh Bhatia told reporters here.

He was replying to a question about the domestic user industry's demand to cut the duties and that of local producers against any duty reduction. Tyre makers are one of the major consumers of the commodity.

Over 13 lakh rubber growers are there in the country. Kerala accounts for a major chunk of the production, which was 8.39 lakh tonne in 2022-23. Consumption during that fiscal was 13.5 lakh tonne.

The gap is bridged by imports from countries such as Vietnam, Malaysia and other southeast asian nations.

In order to regulate the import of natural rubber, the government had increased the duty on import of dry rubber to 25 per cent or Rs 30 per kg, whichever is lower from April 30, 2015.

The government had also reduced the period of utilization of imported dry rubber under advance licensing scheme from 18 months to 6 months from January 2015.

Port entry for import of natural rubber has been restricted to ports at Chennai and Nhava Sheva (Jawaharlal Nehru Port) since January 2016.

Further, in the Union Budget 2023-24, the rate of custom duty on compound rubber was also increased from 10 per cent to 25 per cent or Rs 30 per kg, whichever is lower (at par with natural rubber) to curb circumvention on duty.

Source Name : Economic Times

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Exim Help

What is New?

Date: 12-04-2024
Seeks to extend the due date for filing of FORM GSTR-1, for the month of March 2024

Date: 10-04-2024
NOTIFICATION No. 08/2024- Central Tax
Seeks to extend the timeline for implementation of Notification No. 04/2024-CT dated 05.01.2024 from 1st April, 2024 to 15th May, 2024

Date: 08-04-2024
Notification No 07/2024 – Central Tax
Seeks to provide waiver of interest for specified registered persons for specified tax periods

Date: 04-04-2024
Notification No. 27/2024 - Customs (N.T.)
Exchange Rate Notification No. 27/2024-Cus (NT) dated 04.04.2024-reg

Date: 26-03-2024
Notification No. 24/2024 - Customs (N.T.)
Exchange Rate Notification No. 24/2024-Cus (NT) dated 26.03.2024-reg

Date: 14-03-2024
NOTIFICATION No. 17/2024-Customs
Seeks to amend notification No. 57/2017-Customs dated 30.06.2017 so as to modify BCD rates on certain smart wearable devices.

Date: 12-03-2024
NOTIFICATION No. 15/2024-Customs
Seeks to amend specific tariff items in Chapter 90 of the 1st schedule of Customs Tariff Act, 1975.

Date: 12-03-2024
NOTIFICATION No. 16/2024-Customs
Seeks to amend Notification No. 50/2017-Customs dated 30.06.2017 so as to change the applicable BCD rate on specified parts of medical X-ray machines.

Date: 07-03-2024
Notification No. 18/2024 - Customs (N.T.)
Exchange Rate Notification No. 18/2024-Cus (NT) dated 07.03.2024-reg

Date: 06-03-2024
Notification No. 13/2024-Customs
Seeks to amend notification No. 50/2017- Customs dated 30.06.2017, in order to reduce the BCD on imports of meat and edible offal, of ducks, frozen, subject to the prescribed conditions, with effect from 07.03.2024.

Exim Guru Copyright © 1999-2024 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.


C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001