SAD Exemption For Goods Imported from Nepal
SEVERAL goods imported from Nepal are exempted from Customs duty but they are still liable to pay the 4 percent additional duty, popularly known as SAD (of course no tax can be popular).
Now the Government has exempted the goods covered by Notification No. (Nepal Imports) from the Special Additional Duty. This news has been jubilantly welcomed in Nepal. The Himalayan Times reported that this would be of great help for Nepal in its trade relations with India, and also as a consequence could see a better Balance of Payment situation. The waiver will also be an incentive for Indian investors to open agro-based industries in Nepal and export the products to India. It not only means prosperity of the nation but is also a visible sign of the strengthening relations between the two countries. In this, Nepal stands to gain more because of its weak performance at present in comparison to the fast galloping economy in India .
Consequently, Notification No. dated 08.08.2006, which had earlier given this exemption to 111 items, is rescinded
Notification No. , Dated: December 05, 2011 and Notification No. , Dated: December 05, 2011