The government on Sunday withdrew the total import duty on rice and reduced the regulatory excise duty from 25 per cent to 5 per cent.
The government finally issued a gazette notification on Sunday after growing the price of most consumed the main staple. This duty will be applicable to imports of boiled and non-boiled atap rice - not to aromatic rice, reports UNB.
The HS code of rice is-1006.30.99. The traders have to take permission before importing the staple from the Ministry of Food for each consignment, to avail the tax reduction facility.
An official of the ministry told media that the duty has been cut to give relief to the fixed and marginal income segment.
The government survey saw that coarse rice prices jumped recently, linked to additional transport costs due to a hike in fuel price.
Bd-pratidin English/Tanvir Raihan
