Tariff Value of Brass Scrap and Poppy Seeds Reduced – Government responds to trade’s request.
The Government has decreased the Tariff Value of Brass Scrap from 4082 US Dollars to 3252 and reduced the Tariff Value of Poppy Seeds from 4360 Dollars to 4238 Dollars. There is no change in the Tariff Values of other items.
In TIOL-DDT 1015 - 19.12.2008 – we had mentioned,
The Jamnagar Chamber of commerce and Industry has submitted a representation to the Prime Minister that “internationally the price of brass scrap is approximately 1800 USD even though till 15/12/2008 the import duty was payable on import of brass scrap is at 3525 USD per MT with effect from 17.11.2008. However surprisingly and shockingly CBEC has revised the rates upward from 3525 USD to 4082 USD per MT as per non tariff notification dated 15.12.2008.
Government seems to have responded and has reduced the tariff value back to 3252 US Dollars. A responsive government indeed! This is exactly how government should work and we are happy to report this New Year Gift from the Government.
Notification NO. Dated: December 31, 2008