sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
Latest Expert Exchange
Customs and Excise »
 Central Board of Excise and Customs to be renamed CBIC by April
 Central Board Of Excise & Customs New Delhi GST Flyers
 Hike in customs duty on electronics likely to boost revenue collection
 Customs duty raised on electronic goods
 Ministry Of Finance (Central Board Of Direct Taxes) Notification
 Refund of IGST paid on export of goods under rule 96 of CGST Rules,2017
 Customs And Central Excise Drawback – Part II
 Customs Valuation (Determination of Value of Imported Goods) Rules 2007
 Amendment to Customs Valuation Rules – Notification No. 91/2017 (NT)
 GST on Custom House Agents
 The Customs and Central Excise Duties Drawback Rules, 2017 and All Industry Rates (AIRs) of Drawback related changes

Govt exempts sugar imports from customs duty till Mar 31
January, 11th 2011

Faced with high food inflation, the government today exempted sugar imports from customs duty till March 31, 2011, even as the country has started exporting the sweetener and output is set to exceed demand this year.

In April 2009, the government had abolished import duty on sugar as domestic output had declined sharply to nearly 15 million tonnes against the annual domestic demand of 23 million tonnes.

The zero-duty regime lapsed on December 31, 2010, bringing into effect the earlier duty structure of 60 per cent.

A fresh notification issued by the Central Board of Excise and Customs (CBEC) dated January 8 has again brought down the import duty on sugar to zero till March 31, 2011.

"The exemption on sugar (raw/refined) has been extended by three months up to March 31 and since the notification is dated January 8, the import, if any, between January 1 and January 7 may not benefit by this exemption," Deloitte India Indirect Tax leader Prashant Deshpande told PTI.

Sugar production of India, the world's second biggest producer, is estimated to touch 24.5 million tonnes in 2010-11 sugar year (October-September) against the annual domestic demand of 23 million tonnes. Besides, the country has an opening stock of about five million tonnes.

On the expectation of better output, the government has allowed sugar exports of 1.5 million tonnes under Open General Licence (OGL) and Advance Licence Scheme (ALS).

In the wake of high food inflation, the government has slashed import duty on onion to zero and has extended zero duty on pulses till March 2012.

The inflation, mainly the food inflation, has been at uncomfortably high levels for the last few weeks.

Soaring onion and other vegetables prices led to the sharp rise in food inflation at 18.32 per cent for the week that ended on Christmas, up from 14.44 per cent recorded in the previous week.

However, sugar prices, which skyrocketed to nearly Rs 50 per kg in January 2010 have come down to Rs 30-32 each kg.

Home | About Us | Terms and Conditions | Contact Us
Copyright 2018 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Enterprise Resource Planning Solutions ERP Solutions Enterprise Resource Planning Software Solutions ERP Software Solutions Supply Chain Management Solutions SCM Solutions Supply Chain Management Software Solutions SCM Software Solutions Enterprise Resource Planning Solutions India ERP Solutions India Enterprise Resource Planning Software Solutions India ERP Software Solutions India Supply Chain Management Solutions India SCM Solutions India Supply Chain Management Software Solutions India SCM Software Solutions India

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions