Government exempts customs duty on cotton imports till September 30

Government exempts customs duty on cotton imports till September 30

New Delhi, April 14, 2022

The Government has decided to exempt all customs duty on import of cotton to lower the price of cotton in the public interest.

This exemption would benefit the textile chain -- yarn, fabric, garments and made ups and provide relief to textile industry and consumers, an official press release said.

The industry has been demanding the removal of 5% Basic Customs Duty (BCD) and 5% Agriculture Infrastructure and Development Cess (AIDC) on raw cotton.

The Central Board of Indirect Taxes and Customs (CBIC) has notified the exemption from customs duty and AIDC for import of cotton.

This notification shall come into effect from April 14 and will remain in force upto and inclusive of September 30 this year, the release said.

"Removal of import duty on raw cotton should have salutary effect on cotton price in India," the release added.

NNN

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