Automotive Tyre Manufacturers' Association
(ATMA) had made a request to allow import of two lakh tonnes of natural rubber duty
free, to which the Centre has ruled out further reduction in import duty.
Since 1st April 2011, natural
rubber attracts basic customs duty of 20% ad-valorem or Rs 20 a kg, whichever
is lower. A further concessional rate of basic customs duty of 7.5% ad-valorem
has been provided to imports of natural rubber up to an aggregate quantity of
40,000 tonnes during financial year 2011-12.
Taking into account the interest of domestic
growers, there is no proposal to carry out a further reduction in import duty
on natural rubber at this stage, said S.S. Palanimanickam, Minister of State
for Finance, in a written reply to a Lok Sabha question.
Read
lot more in Rubber4U – 15th December 2011 issue
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