Finance Ministry notifies Import Duty Relief for Select Rice Imports from May 1, 2025

The Ministry of Finance has notified a reduction in import duties for select rice varieties, effective from May 1, 2025.

Through Notification No. 28/2025-Customs, issued on April 30, 2025, under the powers conferred by Section 25(1) of the Customs Act, 1962, the Central Government has amended earlier notifications to provide import duty relief on specific categories of parboiled rice, GI-recognised rice, and certain semi-milled or wholly milled rice varieties.

Also read: Revenue Recognition under Ind AS 115: Common Errors and How to Avoid Them

Specifically, the notification updates the customs tariff by substituting and inserting new serial entries that ensure zero customs duty (Nil rate) on parboiled rice (tariff item 1006 30 11), other parboiled rice (1006 30 19), other GI-recognised rice (1006 30 91), and semi-milled or wholly milled rice (1006 30 99) not otherwise specified.

Become PF & ESIC Pro: Basic to Advance Course - Enroll Today

The amendments impact earlier notifications, notably Notification No. 27/2011-Customs and Notification No. 22/2024-Customs, aligning the tariff rates to reflect the revised duty structures.

Also read: Income Tax Return: Major Changes in New ITR Forms ITR-1 and ITR-4

According to the Finance Ministry, the decision is made in the public interest, likely aiming to stabilize domestic supply, balance trade, and ensure the availability of key rice varieties in the Indian market. The revised customs duty rates will come into force starting May 1, 2025, as specified in the gazette notification.

To Read the full text of the Notification CLICK HERE

Support our journalism by subscribing to Taxscan premium. Follow us on Telegram for quick updates