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Govt doubles import duty on wheat to 20 percent

Date 10-Nov-2017
Subject Govt doubles import duty on wheat to 20 percent

Govt doubles import duty on wheat to 20 percent

New Delhi: The Government has doubled the import duty on wheat to 20 per cent to curb cheap shipments.

It also imposed import duty of 50 per cent on peas to check cheaper shipments from countries like Canada.

The Central Board of Excise and Customs (CBEC) in a notification said that it seeks "to

(i)            increase rate of basic customs duty on Peas, (Pisum sativum) from present Nil rate to 50%.

(ii)           increase rate of basic customs duty on wheat from 10% to 20%."

In March, the Government had imposed 10 per cent import duty on wheat to contain sharp fall in local prices. India imported about 5 million tonnes of pulses last fiscal. The import duty on peas has been imposed to curb shipments and boost domestic prices.

Source:- Dailyshippingtimes.com

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