Import duty on sugar up by 10%
Posted on: 11/Jul/2017 10:47:25 AM
Sugar is imported from other countries in large quantities in India. This has led to a situation where the prices of the sugar producers domestically to come down heavily. Consequently, the sugarcane growers and the sugar mills are affected greatly.
As a countermeasure, the central food department had recently recommended to the central government to raise the import duty on the imported sugar by 10%.
The central government accepted this proposal and subsequently, the revenue department released an order yesterday (Monday, 10th July) increasing the present import duty of 40% to 50%.
This will come into immediate effect. However, it has not been clarified as to how long this additional import duty will be valid.
This step of increased import duty on sugar has been taken with a view to maintain the price of the inland sugar prices to be maintained at a uniform and steady rate and also to prevent the import of low-quality sugar.
