Import duty on ‘Natural rubber in other forms' increased
IN recent months, the prices of rubber in the domestic market have fallen considerably. The fall in prices is stated to be due to increased imports. To protect the interest of rubber growers, the basic customs duty on natural rubber has been increased from 20% or Rs 20 per kg, whichever is lower, to 20% or Rs 30 per kg, whichever is lower, vide notification No. 51/2013-Customs dated 20-12-2013. Over 12 lakh farmers, who are dependent on this crop for their livelihood, are to be benefitted.
Serial no. 252 of Notification , dated 17th March, 2012 reads thus -
252. | 4001 21, 4001 22, 4001 29 | (i) Goods up to an aggregate quantity of forty thousand metric tonnes of total imports of such goods in the remaining part of the financial year 2011-12. Explanation. - For removal of doubts, it is clarified that the quantity of goods already cleared under S. No. 491A of notification No. 21/2002-Customs dated the 1st March, 2012 , up to the date of its supersession, shall be included in computing the aggregate quantity. | 7.5% | - | 1 |
(ii) All goods other than at (i) | 20% or Rs. 20/- per kg, whichever is lower | - | - |
The duty rate against Sr.no. (ii) has been substituted to read as below -
252. | 4001 21, 4001 22, 4001 29 | (i) Goods up to an aggregate quantity of forty thousand metric tonnes of total imports of such goods in the remaining part of the financial year 2011-12. Explanation. - For removal of doubts, it is clarified that the quantity of goods already cleared under S. No. 491A of notification No. 21/2002-Customs dated the 1st March, 2012 , up to the date of its supersession, shall be included in computing the aggregate quantity. | 7.5% | - | 1 |
(ii) All goods other than at (i) | 20% or Rs. 30/- per kg, whichever is lower | - | - |
Notification , dated December 20, 2013.