Import duty hiked on ghee, butter, butter oil

New Delhi, Oct 5 (IANS) In a move to protect the domestic industry, the government on Monday raised the import duty on three related products – ghee, butter and butter oil – from 30 to 40 percent with immediate effect, owing to a steep fall in global prices.

“To provide effective protection to domestic industry suffering due to a glut of commodity supplies in the world market, the government has decided to increase import duty on ghee, butter and butter oil from 30 percent to 40 percent,” Revenue Secretary Hasmukh Adhia told reporters here.

“The new duty comes into effect from today and will be valid till March 31, 2016. Orders are being issued by the ministry,” he added.

Explaining that owing to the steep fall in international prices, the industry had represented for protection in this regard, Adhia said industry, in the context of a risk, can ask for applying safeguards and anti-dumping mechanisms.

“It is industry that has to make out the case against a particular country or product. The Director Safeguards can recommend a provisional duty, which the ministry can then act upon,” Adhia said pointing to the recent safeguards duty imposed on hot-rolled steel products.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here