Union Government notifies new import policy for marble & travertine blocks
Union Government has notified new import policy for marble & travertine blocks with effect from October 1, 2016.
The policy aims to balance the interests of domestic consumers, producers and processors, and ease the system for import of marble & travertine blocks.
Key Features of the Policy
- It ends the quantitative restriction on the import of marble and travertine blocks.
- It also ends the cumbersome and restrictive import licensing system.
- The Minimum Import Price (MIP) for marble blocks has been reduced to 200 US dollar per metric ton.
- To address the interest of domestic producers, the basic customs duty on import of marble and travertine blocks has been increased from 10% to 40 %.
- The basic customs duty on the import of marble slabs is doubled to 20% and MIP on the import of marble slabs is being reduced to 40 US dollar per square metre.
- The basic customs duty on import of granite slabs has been doubled to 20% and the MIP on the import of granite slabs has been reduced to 50 US Dollars per square metre.
Related Posts
Month: Current Affairs - September, 2016
Parveen goel
September 19, 2016 at 10:52 pmPls see if this is ok- “By abolishing licensing on raw marble, the government has given a push to Make in India and a level playing field to all , breaking monopoly and Equal opportunity to all , decentralization of trade –Vikas Sampoorn Bharat ka said Parveen Goel, chairperson, import committee of Delhi Marble Dealers Association.
Parveen goel
September 19, 2016 at 10:52 pmPls see if this is ok- “By abolishing licensing on raw marble, the government has given a push to Make in India and a level playing field to all , breaking monopoly and Equal opportunity to all , decentralization of trade –Vikas Sampoorn Bharat ka said Parveen Goel, chairperson, import committee of Delhi Marble Dealers Association.