Agriculture Infrastructure and Development Cess
In order to finance improvement of the agriculture infrastructure, the Agriculture Infrastructure and Development Cess (AIDC) has been imposed on import of specified goods since 2 February 2021.
At the same time, an additional duty of excise on petrol and diesel has been imposed and took effect immediately. To lessen the impact of AIDC levy on these products, a corresponding reduction in duty rates has been proposed.
‘There is a…