Representational picture solely.
| Photograph Credit score: The Hindu
The Division of Commerce has prolonged the Minimal Import Worth on 5 classes of knitted materials until December 31, in a transfer to curb cloth imports.
Based on a notification issued on Tuesday (October 1, 2024), artificial, artifical fibre, and cotton knitted materials underneath 13 HSN codes are actually underneath prohibited checklist of imports. “The imports will, nevertheless, be free if the worth of the material is $3.5 per kg or extra,” it mentioned.
Trade sources mentioned the Authorities launched minimal import worth on sure classes of knitted materials earlier this 12 months. It’s prolonged until December 31 for these 5 classes and the federal government has added eight extra classes based mostly on representations from commerce and business. “It will carry down low cost import of materials, particularly from China,” they mentioned.
Printed – October 02, 2024 11:47 am IST
