ANNOUNCEMENT 10 May 2010In May 2010, the government of India announced a change in export taxation.
NUMBER OF INTERVENTIONS
Notification No. 59 /2010-Customs
Notification No. 107 /2010 - Customs
On 10 May 2010, the Government of India vide Notification No. 59 / 2010 - Customs, exempted raw cotton from the levy of export tariff in excess of the rate of Rs.2500 per tonne (USD 40 per tonne).
Raw cotton exports were to be levied Rs.10,000 per tonne (USD 158 per tonne) under the Finance Act, 2010, which came into effect on 8 May 2010. The rate of export tariff prior to the Finance Act, 2010 was Rs.2500 per tonne (USD 40 per tonne).
Subsequently, the exemption from export tariff was rescinded on 1 October 2010, vide Notification No. 107/2010 - Customs.