SME Times is powered by   
Search News
Just in:   • US stocks rally amid trade optimism, economic data  • HDFC Bank's Q3 net profit up 20%  • Centre may miss divestment, fiscal deficit targets  • CII suggests measures to help MSME sector  • Imran Khan seeks expedition of CPEC projects 
Last updated: 25 May, 2018  

Wheat.9.Thmb.jpg Wheat prices rise on import duty hike

Wheat.9.jpg
   Top Stories
» Centre may miss divestment, fiscal deficit targets
» CII suggests measures to help MSME sector
» FICCI for housing scheme for women garment workers
» India's debt up 50% to Rs 82 lakh cr under Modi govt
» Big relief to startups, investors as govt liberalises norms
SME Times News Bureau | 25 May, 2018
Wheat prices rose across the country on Thursday after the government raised duty on its import from 20 per cent to 30 per cent a day ago.

Mill quality wheat was priced at Lawrence Road Market in Delhi at Rs 1,775 a quintal, up Rs 15 from the last session, while the price of wheat rose Rs 30-35 to Rs 1,605-1,640 a quintal at Shahjahanpur in Uttar Pradesh.

In a bid to check import of wheat, walnut and almond from overseas markets, the government increased duty on import of all the three items through two separate notifications issued by the Central Board of Indirect Taxes and Customs (CBIC) on Wednesday.

In the notification pertaining to wheat import, the CBIC said the basic customs duty (BCD) on the commodity was increased from present 20 per cent to 30 per cent.

Similarly, the BCD on shelled almonds was raised from Rs 65/Kg to Rs 100/Kg.

The government has also increased the BCD on protein concentrates from 10 per cent to 40 per cent, as per the notification.

The tariff rate of basic customs duty on walnuts in shell was increased from 30 per cent to 100 per cent, while tariff rate of basic customs duty on protein concentrates and textured protein substances was pushed to 40 per cent from 30 per cent by invoking Section 8A(1) of the Customs Tariff Act, 1975, the notification said.
 
Print the Page Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 20 Jan, 2019
  Daily Poll
Is counterfeiting a major threat to SMEs?
 Yes
 No
 Can't say
  Commented Stories
» HostBooks Ltd. offers a seamless GST filling experience: Kapil Rana(3)
» Ashok Leyland to launch 13-seater passenger vehicle, LCV(1)
» CII welcomes GST Council steps as MSME friendly(1)
» Hyperloop start-up Arrivo to shut down: Report(1)
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter