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Import duty on sugar increased from 25 percent

Dated:- 30-4-2015 - The Union Cabinet chaired by the Prime Minister, Shri Narendra Modi, gave its approval toincrease import duty on sugar from 25 percent to 40 percent. In order improve the price sentiments relating to sugar, the Government has decided to take the following steps: 1) The duty on import of sugar under the Open General License (OGL) shall be increased to 40 percent, as against the current level of 25 percent. This would prevent any imports in case international prices of sugar we .....

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to six months, so as to prevent any possibility of any leakage into the domestic markets. 4) Removal of excise duty on ethanol supplied for blending. It has been decided that ethanol produced from molasses generated during the next sugar season and supplied for ethanol blending would be exempted from excise duty and the price benefit would be passed on the to the sugar mills/distilleries.Presently 12.36 percent central excise duty is levied. These measures will significantly improve the adverse .....

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