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Govt hikes import duty on bamboo to 25 percent

The 25 per cent customs duty rate shall now uniformly apply to any import of bamboo, including by traders, Central Board of Indirect Taxes and Customs said.

Published: 09th June 2020 06:12 PM  |   Last Updated: 09th June 2020 06:12 PM   |  A+A-

northeast india, northeast covid lockdown

An elderly man walks to a market to sell bamboo baskets during ongoing COVID-19 lockdown at Baganpara in Baksa district of Assam. (File Photo | PTI)

By PTI

NEW DELHI: The government on Tuesday hiked import duty on bamboo to 25 per cent with a view to encourage domestic agarbatti makers to use local bamboo.

"Customs duty on bamboo imports by agarbatti manufacturers hiked from 10 per cent to 25 per cent with immediate effect to encourage use of domestic bamboo for AatmaNirbhar Bharat," the Central Board of Indirect Taxes and Customs (CBIC) said in a tweet.

The 25 per cent customs duty rate shall now uniformly apply to any import of bamboo, including by traders, it said.

The uniform rate will help in avoiding misuse and rates-related disputes, it added.

"This measure will benefit farmers immensely.

MSME agarbatti manufacturers also to gain, as earlier only the large agarbatti manufacturers were able to import bamboo at lower rate," CBIC said.

 


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