Import Duty

The Centre's decision to remove import duty on wheat today came under attack from the Bharatiya Kisan Union (BKU) which asked the government to withdraw the move and instead hike the tax to 40 per ...

The Union Food Ministry has strongly favoured the slashing of duty on wheat imports to at least 15 per cent from the existing 25 per cent in order to boost domestic availability of the food ...

The government has raised import duty on wheat to 25 per cent till March next year to restrict overseas purchases in the wake of falling global prices.

The government does not have any immediate plans to cut import duty on sugar as the country would have sufficient supply of the sweetener considering fall in consumption this year and a likely bumper crop ...

The industry has argued that reduction in import duty on the machinery would help in enhancing production and increase exports from India.

Wheat production in India, the world's second-biggestgrower, is estimated to have declined to 88.94 million tonnesin the 2014-15 crop year, as against the record production of95.85 million tonnes in 2013-14.

India has decided to introduce an import duty of 10 percent on wheat after a gap of eight years, according to government sources.

India will impose an import duty of 10 percent on wheat until March 31 next year, Finance Minister Arun Jaitley said on Friday.

India is unlikely to import more wheat in the coming weeks due to surge in global prices and concerns that the government may anytime slap 10 per cent duty on inbound shipments, according to traders.