The government today, 13 April 2009 scrapped import duty on raw and refined sugar primarily to stabilise sugar prices which zoomed to a three-year high. Currently, refined sugar attracts 60% customs duty.
After this move there will be no export obligation, which is mandatory in case the sweetener is brought to the country under advance licence scheme.
Commerce Secretary G K Pillai said the decision has been taken for abolition of duty on import of both raw and refined sugar adding that the Election Commission's clearance has already been obtained.
Mr. Pilai also said the notification of abolition of customs duty on sugar would soon be published by the finance ministry.
The Cabinet on 9 April 2009 had decided to allow public sector trading firms MMTC, STC and PEC, and agri cooperative Nafed to import 10 lakh tonnes of refined sugar at zero duty by August 2009.
After this move there will be no export obligation, which is mandatory in case the sweetener is brought to the country under advance licence scheme.
Commerce Secretary G K Pillai said the decision has been taken for abolition of duty on import of both raw and refined sugar adding that the Election Commission's clearance has already been obtained.
Mr. Pilai also said the notification of abolition of customs duty on sugar would soon be published by the finance ministry.
The Cabinet on 9 April 2009 had decided to allow public sector trading firms MMTC, STC and PEC, and agri cooperative Nafed to import 10 lakh tonnes of refined sugar at zero duty by August 2009.
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