Raw Cotton subjected to Export Duty
IN yesterday's DDT, we said that raw cotton was subjected to export duty of Rs. 2500 per tonne with effect from April 9, 2010 and unfortunately, the Government decided to hide the notification from public domain.
We also challenged that we would apologize if we were incorrect. Fortunately, truth cannot be hidden under the carpet for long and the notification finally tumbled out of the Board's closet into public domain.
As suggested by us the Central Government withdrew exemption from levy of export duty on raw cotton. In this regard, the Notification 100/89-Cus is amended to delete S.Nos. 14 and 15 which refer to ‘Raw Cotton' and ‘Cotton waste, all sorts'. With effect from April 9, 2010, raw cotton will be subjected to a duty of Rs. 2500 per tonne.
Notification No. , Dated: April 9, 2010