Import Duty on Natural Rubber reduced to 7.5 percent
GOVERNMENT has reduced the Customs Duty on Natural Rubber from 20 percent to 7.5 percent up to an aggregate quantity of 40,000 metric tonnes for the rest of this financial year. The rate of duty will be 20 percent or Rs.20 per kg whichever is lower, from 1 st April, 2011.
Though rubber is not as serious as onions, this is another effort on the part of the government to bring down the price of rubber which has crossed the Rs. 200 per kg mark in Kerala. Due to continuous rains in Kerala, not much of rubber could be tapped and so the price went up.
Notification No. , Dated: December 22, 2010