In a recent development, government has removed a duty free import scheme for raw sugar, with an aim to cut down on supplies from overseas and help the cash-starved sugar industry in the country.
“Import of “raw sugar” under Duty Free Import Authorisation (DFIA) scheme is withdrawn with immediate effect,” Directorate General of Foreign Trade (DGFT) has notified earlier this week.
Under the scheme, refiners were allowed to import raw sugar, which had to be processed and then exported.
The government had also recently hiked the import duty on sugar to 40 per cent from 25 per cent and scrapped the excise duty on ethanol made from molasses.
Source:knnindia.co.in
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