Govt. slashes Special Commodity Levy on imported rice

Friday, 5 January 2024 00:20 - - {{hitsCtrl.values.hits}}

The Government has reduced the Special Commodity Levy on imported rice significantly.

The Special Commodity Levy rice imported under HS Code 1006.30.29 is cut from a hefty Rs. 65 per kilogram to a mere one rupee.

The move comes amid a severe shortage of Keeri Samba rice in the marketplace.

The Extraordinary Gazette by the Finance Ministry noted that the revised levy will come into effect from 2 January to 21 January to incentivise increased imports of the substitute rice variety.

The Gazette was issued by President Ranil Wickremesinghe in his capacity as the Finance, Economic Stabilisation and National Policies Minister by virtue of the powers vested to him under Section 2 of the Special Commodity Levy Act No.48 of 2007.