All taxes imposed on imported rice will be abolished
with effect from midnight tonight and instead of the taxes ,a special commodity levy of Rs.15 per a Kilo Gramme of Rice will be imposed on imported rice according to the Ministry Of Finance.
The Ministry has decided to abolish all taxes imposed on imported rice to offer relief to the people who are affected due to the escalating prices of rice at present as a result of the drought.
Accordingly cuatoms duty of Rs.50 ,15% VAT,7.5% port and Airport levy and 2% nation building tax per Kilo Gramme of rice will be removed and instead od these taxes a special commodity levy of Rs.15 per Kilo Gramme of imported rice will be imposed the Finance Ministry has stated.
Taxes imposed on imported rice varities including Nadu,Red Raw Rice and Samba will be reduced and taxes imposed on imported Basmathi rice will not be reduced the Ministry has stressed.
These decisions were taken by the Cabinet Sub Committee on cost of living.
The Ministry has decided to abolish all taxes imposed on imported rice to offer relief to the people who are affected due to the escalating prices of rice at present as a result of the drought.
Accordingly cuatoms duty of Rs.50 ,15% VAT,7.5% port and Airport levy and 2% nation building tax per Kilo Gramme of rice will be removed and instead od these taxes a special commodity levy of Rs.15 per Kilo Gramme of imported rice will be imposed the Finance Ministry has stated.
Taxes imposed on imported rice varities including Nadu,Red Raw Rice and Samba will be reduced and taxes imposed on imported Basmathi rice will not be reduced the Ministry has stressed.
These decisions were taken by the Cabinet Sub Committee on cost of living.
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