aidc

India allows RBI to import gold without paying import levies

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India allows RBI to import gold without paying import levies

India has allowed its central bank to import gold without paying import levies, the government said in a notification issued late on Tuesday. Gold importers from the world’s second biggest gold consumer need to pay basic customs duty and Agriculture Infrastructure and Development Cess (AIDC). As of September 2023, the Reserve Bank of India held … Read more

India cuts tax on crude palm oil imports to help consumers, refiner

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India cuts tax on crude palm oil imports to help consumers, refiner

India has cut its tax on crude palm oil (CPO) imports to 5% from 7.5%, the government said in a notification, as the world’s biggest edible oil importer tries to rein in local prices of the commodity and help domestic refiners and consumers. The reduction in the tax, known as the Agriculture Infrastructure and Development … Read more