Current Affairs

GK MCQs Section
Q. CBIC has notified exemption from Customs duty and Agriculture Infrastructure development Cess on which product?
Answer: Raw Cotton
Notes: The Central Board of Indirect Taxes and Customs (CBIC) notified the exemption from Customs duty and Agriculture Infrastructure development Cess for import of cotton. This exemption would benefit the textile chain- yarn, fabric, garments and made ups and provide relief to textile industry and consumers. Industry has been demanding for removal of 5% Basic Customs Duty (BCD) and 5% Agriculture Infrastructure and Development Cess (AIDC) on raw cotton.
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