APN News

  • Thursday, December, 2019| Today's Market | Current Time: 03:47:24
  • Parliament adopts resolution levying 200% duty on Pakistani goods

    Published on July 8, 2019

    Parliament has adopted a statutory resolution for levying 200 per cent duty on all goods originating in or exported from Pakistan.

    The Lok Sabha and Rajya Sabha approved the amendment in the first schedule of the Custom Tariff Act in this regard.

    India had notified the basic custom duty to 200 per cent on all goods exported from Pakistan with effect from 16th of February this year.

    Besides, the resolution related to increasing basic custom duty on lentils, boric acid and diagnostic and laboratory reagents.

    On lentils, the duty has been increased from 40 per cent to 50 per cent, on boric acid it has been increased from 17.5 per cent to 27.5 per cent and on diagnostic items from 20 per cent to 30 per cent.

    The two statutory resolutions were moved by Minister of State for Finance Anurag Thakur.