SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

Govt slaps 10% import duty on raw sugar and hikes duty on steel alloys

17 Jul 2012 Evaluate
The Government has slapped 10 % customs duty on raw sugar imports and also raised the import duty on flat alloy steel products like hot and cold rolled alloys to 7.5% than its previous 5%.
 
The Food Ministry had proposed 10% import duty on sugar after zero duty regime expired on June 30. Earlier, with an anticipation of shortfall in output, the government had allowed a duty free import of raw sugar during the 2009-10 sugar seasons. India's sugar production is estimated to reach 26 million tonnes in 2011-12 marketing year (October-September) against 22 million tonnes of annual domestic consumption. India now with surplus output has emerged as one of the major exporters by shipping 2.5 million tonnes of sweetener in the current season.
 
As per Finance Ministry notification, import duty on certain flat steel products too has been raised in order to close the loop hole occurred in product classification, which will help both alloy and non-alloy steel to attract same level of import duty. In the April-June quarter, steel imports have reported a 40% hike on behalf of rising domestic consumption.

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×