GSTnews item28 July 2015

Traders Jittery as govt plans to hike wheat import duty by 10 per cent

News Update

Traders Jittery as govt plans to hike wheat import duty by 10 per cent

Published Date: Jul 29, 2015
Source: ICAI PD Committee
Traders and processors of wheat products from pasta to bread are concerned over a likely move by the government to impose a 10 per cent duty on the cereal grain to discourage imports. Analysts said the step is aimed at helping the Food Corporation of India offload wheat of poor quality on account of unseasonal rains. Traders have contracted to import over 5 lakh tonnes of wheat this year, they said.
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