Proposed import SD cut on some items withdrawn

Govt backtracks from hiking SD on tobacco import
The government on Saturday passed the Finance Bill-2014 reinstating the existing supplementary duty on some products on import to protect local manufacturing industries.
In the approved finance bill, finance minister AMA Muhith reinstated the SD at import stage of some products including toothpaste, soap, detergent powder, leaf spring, razor, razor parts and stainless steel at 20 per cent as a safeguard measures for local industries.
In the budget proposal placed in the parliament on June 5, Muhith proposed to lower supplementary duty to 15 per cent on those items along with some other 770 products.
Supplementary duty on float glass and cosmetics items has been restored to 45 per cent from the proposed 30 per cent, and 30 per cent from 20 per cent on dextrose monohydrate.
Duty on import of LP gas cylinder has been reduced to 10 per cent from the 25 per cent.
The government also reduced SD on hybrid car up to 1,800cc to 45 per cent which was 60 per cent in the original proposal.
The government increased import duty to 25 per cent from 10 per cent on bus/lorry tyre, rim size up to 16 inch.
Customs duty on import of aluminium foil, not backed for backward industries of pharmaceutical sectors, has been reduced to 5 per cent from the 10 per cent and 5 per cent regulatory duty has been withdrawn.
Customs duty on import of graphite electrode used in billet production has been reduced to 10 per cent from 25 per cent and 5 per cent RD has been withdrawn.
Five per cent RD on super enamelled copper wire used in transformer manufacturing industry has been withdrawn.
The proposals were included in the finance bill following the advice of the prime minister, Sheikh Hasina.
On the other hand, the government also reduced SD on unprocessed tobacco to 60 per cent from the existing 100 per cent and 60 per cent from the existing 100 per cent on cigarette paper for commercial import.
The government also reduced CD on electric fan’s motor to 10 per cent from 25 per cent and withdrew 5 per cent RD on the product.
Duty at the rate of 5 per cent on import of pet chips, synthetic filament tow, artificial staple fibre and three raw materials of textile industry, has been withdrawn.

-With New Age input

Related News

Padma Bank celebrates International Women’s Day

Business Desk : dhakamirror.com Padma Bank Limited has celebrated this year’s International Women’s Day in line with the women’s day theme ‘DigitALL: Innovation and Technology for Gender Equality’. Padma Bank managing director and CEO Tarek Reaz Khan was present as the chief guest in the event organized at Gulshan Corporate Head Office on Sunday, said ... Read more

Apparel exhibition in Dhaka on March 16

Business Desk : dhakamirror.com A conference and exhibition on sustainable clothing production will be held in Dhaka on March 16. About 20 exhibitors are expected to present green production technologies at the Sustainable Apparel Forum (SAF), according to a press release. The fourth edition of the SAF will focus on several agendas, including circularity, carbon ... Read more

Elon Musk is once again the richest person on earth

After a brief stint at number 2, the billionaire retakes the top spot, according to the Bloomberg Billionaires Index. Business Desk : dhakamirror.com SpaceX and Tesla CEO Elon Musk is yet again the world’s richest person. He has reclaimed the title of the richest person in the world, per Bloomberg’s tally. Mr Musk, 51, was ... Read more

CSR or eyewash!

Mahtab Uddin Ahmed A common sight during winter months in recent years has been the distribution of blankets by our politicians, corporate leaders and businessmen to communities with little or no real need for them. News and social media coverage, mobile clicks and press conferences may outnumber the total spending on these so-called noble endeavour ... Read more

Government extends FBCCI committee term by three months

Business Desk : dhakamirror.com The government extended the tenure of the present board of directors the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) by three months until August 18 this year. The committee elected for the 2021-23 term, which was supposed to dissolve on 19 May, will now discharge duties till 19 August, ... Read more

Beggar offers Tk 1,000 as bribe to officials to be freed

News Desk : dhakamirror.com A beggar offered Tk 1,000 in bribe to officials conducting a drive against begging in the capital’s Gulshan yesterday in exchange for his release. The drive was jointly organized by the Department of Social Services and Dhaka North City Corporation (DNCC). Social Service Officer Chandan Kumar Mitra said they got hold ... Read more

LafargeHolcim Bangladesh gets new CEO

Business Desk : dhakamirror.com LafargeHolcim Bangladesh yesterday appointed a new chief executive officer (CEO). The appointee, Mohammad Iqbal Chowdhury, replaces Rajesh Surana who has been promoted as area manager of East and South Africa region for Holcim Group, said a press release. Chowdhury has been chief financial officer at LafargeHolcim Bangladesh since 2017 and was ... Read more

Ctg trade fair begins today

Business Desk : dhakamirror.com The month-long Chattogram International Trade Fair begins in the port city today with a view to promoting and marketing local products at home and abroad. Information and Broadcasting Minister Hasan Mahmud is expected to inaugurate the fair, which has been organised by the Chittagong Chamber of Commerce and Industry (CCCI) on ... Read more

BRAC Bank partners with BGBA on an apparel show in New York

Business Desk : dhakamirror.com BRAC Bank has joined hands with the Garment Buying House Association (BGBA) to represent Bangladesh in Texworld, Apparel Sourcing Trade Show in New York. Texworld, Apparel Sourcing USA Trade Show is the largest apparel sourcing event on the East Coast, USA, where thousands of international exhibitors gather to connect with buyers, ... Read more

DITF concludes with export orders of around Tk 300 crore

Business Desk : dhakamirror.com The 27th Dhaka International Trade Fair-2023 ended on Tuesday with businesses receiving export orders worth about $30.38 million (about Tk 300 crore) while goods worth Tk 100 crore were sold in the month-long exhibition at the Bangabandhu Bangladesh-China Friendship Exhibition Centre at Purbachal in Dhaka. A total of 47 businesses received ... Read more

Belal Ahmed now SIBL’s acting chairman

Business Desk : dhakamirror.com Social Islami Bank Ltd (SIBL) has appointed Belal Ahmed as the acting chairman of its board of directors after Md Mahbub Ul Alam resigned. Previously, he served the bank’s board as vice-chairman. Ahmed is the son-in-law of Mohammed Saiful Alam, the chairman of Chattogram-based S Alam Group. He represents Unitex Steel ... Read more

Walton sees Tk 566cr sales drop in six months

Business Desk : dhakamirror.com Walton Hi-Tech Industries PLC, the largest electrical, electronics and home appliance manufacturer in Bangladesh, posted lower sales and profits in the first half of the current financial year due to higher inflation and the dearer US dollar amid the ongoing global economic crisis. The sales dropped by Tk 566 crore, or ... Read more

Phone producers must preinstall Bijoy app, although users are under no obligation: Jabbar

Business Desk : dhakamirror.com Preinstallation of Bijoy app on android phones is still mandatory for the importers and manufacturers of the devices, but it is not obligatory for the users to use the Bangla writing software, Telecom Minister Mustafa Jabbar said today. The Bangladesh Telecommunication Regulatory Commission (BTRC) has not changed its stance over the ... Read more

‘Richest 1% seize two-thirds of fresh $42 trillion created since 2020′

Oxfam report says Business Desk : dhakamirror.com A new Oxfam report shows that the top 1% of the world’s wealthiest people have taken almost two-thirds of the $42 trillion in new wealth that has been created since 2020. This is almost twice as much money as the bottom 99% of the world’s population has. A ... Read more

‘Richest 1% seize two-thirds of fresh $42 trillion created since 2020′

Oxfam report says Business Desk : dhakamirror.com A new Oxfam report shows that the top 1% of the world’s wealthiest people have taken almost two-thirds of the $42 trillion in new wealth that has been created since 2020. This is almost twice as much money as the bottom 99% of the world’s population has. A ... Read more

Puma extends footprint

Business Desk : dhakamirror.com The global footwear and apparel giant Puma has opened a flagship store in Chattogram, Bangladesh. With the new one, the total number of showrooms of Puma in Bangladesh rises to four. The brand has three outlets in Dhaka, launched by DBL Group, the franchise partner of Puma in Bangladesh. Bangladeshi cricketer ... Read more

First time gold prices exceed Tk 93,000 per bhori

Business Desk : dhakamirror.com The Bangladesh Jewellers’ Association (Bajus) has decided to raise gold prices for a third straight week, effective tomorrow. According to a press release issued by Bajus yesterday, the price of one bhori (11.66 grams) of 22-carat gold has increased by 3 percent, to around Tk 93,400, as of today. It said ... Read more

Tk 351 crore apartments, plots sold, booked in REHAB Fair 2022

Business Desk : dhakamirror.com Flats, plots and commercial spaces worth around Tk 351.16 crore were sold and booked in the 22nd edition of the REHAB Fair, which ended today. Of them, Tk 168 crore came from the sales and booking of flats, Tk 80 crore from plots and Tk 53.73 crore from commercial spaces, according ... Read more

StanChart wins The Banker’s ‘Best Bank award

Business Desk : dhakamirror.com Standard Chartered Bangladesh was recently named as the “Best Bank in Bangladesh” by The Banker magazine’s Bank of the Year Awards 2022. The Banker provides economic and financial intelligence for the world’s financial sector, combining in-depth regional and country coverage with reports on markets, banking, regulation, risk, transactions and technology and ... Read more

10 new products require BSTI certification

Business Desk : dhakamirror.com Bangladesh Standards and Testing Institution (BSTI) has added 10 new products to the list of items that need to be certified by the national standards body. The new products are: disposable diapers, facewash, petroleum jelly, flatbread/tortilla, shaving foam or gel, eye care, hair dye liquid, aerosol, shoe polishing and geyser. The ... Read more