SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

CBIC hikes wheat customs duty to 40% to curb imports

30 Apr 2019 Evaluate

In order to curb imports and protect the domestic industry, the Central Board of Indirect Taxes and Customs (CBIC) has hiked the customs duty on wheat to 40% from 30% earlier. The government wants to restrict overseas purchase so that domestic prices of wheat do not come under pressure as the country's wheat output is expected to scale a record high this year. In May last year, the government had hiked BCD on wheat to 30% from 20%.

The government has fixed wheat's minimum support price (MSP) or the price at which it buys from farmers, at Rs 1,840 per quintal, up from Rs 1,735 a year earlier, as part of its decision to fix the support price at a minimum of 1.5 times the production cost.

The country's wheat production this season might cross 100 million tonnes, an all-time high. The output stood at record 99.70 million tonnes in the 2017-18 crop year (July-June).

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:

×