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Home Business Basic Duties On 8 US Products To Stay, Only Retaliatory Tax Gone:...

Basic Duties On 8 US Products To Stay, Only Retaliatory Tax Gone: Official

The gadgets on which the retaliatory tax has been eliminated embody lentils, almonds, walnuts and apples.

New Delhi:

The fundamental customs duties and different levies will proceed on eight merchandise, together with apple and walnut from the US in addition to different nations, a senior authorities official stated on Friday.

Extra Secretary within the Division of Commerce Peeyush Kumar stated that India had imposed retaliatory customs duties on 28 American merchandise in 2019 towards US measure to impose duties on sure metal and aluminium merchandise.

He added that India has withdrawn solely retaliatory responsibility on eight merchandise – chickpeas, lentils, almonds, walnuts, apples, boric acid, diagnostic reagents – in 2023 and the worth of imports into India from the US stood at $1.08 billion in 2022-23.

In return, India has gained market entry for indefinite interval into the US via commitments for granting approval to 70 per cent and 80 per cent of exclusion requests, respectively, for Indian metal and aluminum merchandise.

Complete quantity authorised is 3.36 lakh MT (metric tones) and its whole worth is $ 1.01 billion, Mr Kumar advised reporters right here.

“The prevailing BCD (primary customs responsibility) charges for all of the 8 merchandise together with relevant surcharge, cess, IGST, and many others. prevails for these imports from all of the nations together with the US,” he stated.

As well as, he stated, Indian apples could be shielded towards dumping of low high quality and predatory pricing via the Minimal Import Worth (MIP) of Rs 50 per kilogramme for imports from all nations besides Bhutan.

The retaliatory duties eliminated are 10 per cent on chickpeas, 20 per cent on lentils, Rs 7-20 per kg on almonds,; and 20 per cent every on walnuts, apple, boric acid, and diagnostic reagents.

The BCD on these items are 60 per cent on chickpeas, 30 per cent on lentils, Rs 35-100 per kg on almonds, Rs 100 per cent on walnut; 50 per cent every on apples, 7.5 per cent on boric acid, and 10 per cent on diagnostic reagents. 

(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)

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