Kerala Seeks Centers Nod for Import Duty on Rubber

30 July 2013
Thiruvananthapuram

Kerala proposes to seek Centre’s nod to retain the option of 20 per cent import duty to reflect expected changes in the price of rubber regime following the monsoon.

Currently, importers can pay either 20 per cent import duty on the value of rubber or Rs 20 per kg of imports, whichever is lower. The State Government wants the 20-per cent norm to stay while the other option may be done away with, K.C. Joseph, minister for rural development, told newspersons here.

He said this while briefing them on the proceedings at a meeting of members of Parliament from the State on issues to be taken up during the monsoon session of the House. The twin norms applicable now were fixed when rubber prices ruled around Rs 100. Anand Sharma, Union Commerce Minister, had acceded to the State’s demand but necessary orders had not been issued.

Source– http://www.thehindubusinessline.com/news/states/kerala-to-demand-retention-of-20-duty-on-rubber/article4970698.ece

Found Useful? Do Share: Kerala Seeks Centers Nod for Import Duty on Rubber: