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India slashes import tariff but duty payable rise on introduction on new levy – Budget 2020-21

  Indian budget – India reduces the CPO import tariff from 27.50% to 15% but adds a new levy on top of the tariff called Agricultural Infrastructure and Development Cess at 17.50%, making the net effect higher to 35.75% after adding the 10% social welfare levy. This net change is a 5.50% higher duty rate.