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Exemption of Customs Duty on Cotton Import
April 17 , 2022
952 days
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- To reduce the cotton prices, the Indian government has decided to exempt all customs duties on the imports of cotton.
- This exemption announced by the government will be benefiting the textile chain- fabric, yarn, made-ups, and garments as well as provide relief to the consumers and the textile industry.
- The removal of 5 percent Agriculture Infrastructure and Development Cess (AIDC) and 5 percent Basic Customs Duty (BCD) on raw cotton has been demanded by the industry.
- The exemption of the Agriculture Infrastructure development Cess and Customs Duty for import of cotton has been notified by the Central Board of Indirect Taxes and Customs (CBIC).
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