Import Duty Hike Current Affairs, GK & News

Enhanced Import Duty on Bamboo Sticks

The Government of India had recently announced that the import duty on bamboo sticks is to be increased from 10% to 25%. This is to have great impact on Agarbatti industry creating at least 1 lakh new jobs according to KVIC (Khadi and Village Industries Commission). Background The decision of enhancing the import duty was ..

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Import duty on Green Energy Equipment hiked by 20% in Budget 2020-21

The Budget 2020-21 that was presented by the finance Minister Nirmala Sitaraman in the Parliament increased the import duty of green energy equipment like cells by 20%. This is being implemented to drive local manufacturing of the equipment and lowering the import of low-quality Chinese equipment. The step is being introduced to protect the local ..

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Government extends deadline for imposing duty hike on 29 US products by 45 days

Union Finance Ministry has further extended deadline on imposing import duty hike on 29 products, imported from United States (US) by 45 days till September 18, 2018 from earlier August 4, 2018. This decision for extension of retaliatory measures for another 45 days was taken based on suggestion of Union Commerce Ministry. It also comes ..

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