India rescinds Countervailing Duty (CVD) on Nepali jute products

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KATHMANDU – The Government of India has abolished imposition of Countervailing Duty (CVD) on the Nepalese jute products. The Government of Nepal has requested Government of India that the Nepali jute industries are already suffering from constraints of various kinds and imposition of CVD on Nepali jute products has halted the export of the Nepali jute products to India.

The Government of India has considered the request of Government of Nepal favorably and the Government of India has recently issued a notification no. 15/2017-Customs dated 20th April 2017. This notification exempts levy of additional customs duty on jute products which means that henceforth no Countervailing Duty shall be imposed on Nepalese jute products when imported into India.

The abolition of CVD is likely to substantially enhance export of Nepalese jute products to India and thereby help the people engaged in the jute industry of Nepal.