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Question

At present molasses attract zero export duty.How much export duty is the Centre now going to impose on molasses to ensure adequate domestic quantities for ethanol blending and keep inflation in check ? 

A 25 percent Correct Answer Incorrect Answer
B 31 percent Correct Answer Incorrect Answer
C 43 percent Correct Answer Incorrect Answer
D 50 percent Correct Answer Incorrect Answer
E None of these Correct Answer Incorrect Answer

Solution

The Centre will impose a 50 per cent export duty on molasses to ensure adequate domestic quantities for ethanol blending and keep inflation in check. At present molasses attract zero export duty. At present, the basic customs duty on crude edible oils (soy, sunflower and palm namely) is nil while that of refined oils is 12.5 per cent. Agriculture and social welfare cess is levied additionally on both.The effective import duties on crude oil is 5.50 per cent while that on refined oils is 13.75 per cent.

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