Customs Duty on Specified Agri-Machinery Reduced to 2.5%

Basic customs duty on the specified agricultural machinery has been reduced to 2.5% from 5%. The concession is also being extended to parts of such machinery to encourage domestic production.

Basic customs duty on micro-irrigation equipment has been lowered from 7.5% to 5%.

De-oiled rice bran cake have been given full exemption from basic customs duty. Also an export duty of 10% has been levied to discourage its export.

Source : Equity Bulls

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