India to waive duty on jute goods
The Indian government has withdrawn its decision of imposing 14 percent duty on export of Bangladesh made jute and jute goods to India, a commerce ministry spokesman told the news agency yesterday.
Earlier, the Indian government decided to impose 14 percent Countervailing Duty (CVD) and additional countervailing Duty (ACVD) on the same.
The Bangladesh High Commission in India and the commerce ministry confirmed the news of decision to waive the tax on jute export.
The decision to waive the tax has resolved the deadlock of jute and jute goods valued Tk 350 crore.
The Indian government issued a circular to import 14 percent tax on January 18. The commerce ministry condemned in reply to the decision of imposing 14 percent duty on export of jute goods.
Later, the issue of tax waive was discussed at a meeting with the ministry and some major decisions were taken including communication at diplomatic level at the meeting.