Customs duty hiked on bamboo imported by agarbatti manufacturers

Categories: Important News, News
No Comments

As per the recent tweet of CBIC, the Customs duty on bamboo imports by agarbatti manufacturers hiked from 10% to 25% with immediate effect to encourage the use of domestic bamboo for AatmaNirbhar Bharat. The 25% customs duty rate shall now uniformly apply to any import of bamboo, including by traders AatmaNirbharDesh. 

Uniform rate will help in avoiding misuse and rates related disputes. This measure will benefit farmers immensely. MSME agarbatti manufacturers also to gain, as earlier only the large agarbatti manufacturers were able to import bamboo at lower rate.

Source: https://twitter.com/cbic_india/status/1270315698477166592

CLOSE
CLOSE