The import tax for rice has been reduced. Its aim is to prevent a hike in the price of rice during the festive season.
The 20 rupee tax imposed on a kilogramme of rice, the 12 percent Value Added Tax, the five percent Ports and Airport Development Tax and the two percent Nation Building Tax have been removed. Instead, the Finance Ministry said that the Government has decided to levy a five rupee special trade tax with effect from today.
There is a trend in the rise of the price of rice following the drought and a decline in the paddy harvest. A total of 87 thousand 281 hectares of land was impacted by last February as a result of the drought. The most affected were lands in the North and East.
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