Customs duty on latex reduced

摘要

The Government of India has reduced the import duty on latex to Rs 49 per kg with effect from January 17, 2012, as compared to the duty of 70% calculated per kg since March 2002. The All India Rubber Industries Association (AIRIA) has been pressing the government for long for suitable reduction in import duty on latex. AIRIA had also pointed out the anomaly in imposing 70% duty on latex, while that on finished goods has been reduced to less than 7.5%. The facilitated import of finished goods is antithetical to the Government's avowed policy of enhancing domestic value addition, AIRIA had pointed out.