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.

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Categories: India Current Affairs 2018

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Comments

  • Parveen goel
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    Pls 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.