The Central Board of Revenue (CBR) has slashed customs duty on the import of green tea (in bulk packing) from 20 to 10 percent and on instant coffee from 25 to 10 percent. In this regard, the CBR has amended SRO 457(I)/2004 through SRO (I)/2004 here on Thursday. Officials said it was a long lasting demand of the concerned industry to bring down the duty on green tea to check the smuggling of this item, adding the decision would also be instrumental in regulating the import of tea and coffee.
They said the issuance of the SRO has also removed a tariff anomaly as duty on tea was reduced from 20 to 10 percent in Budget 2004-05, but the duty on coffee was not slashed. Now, the duty on instant coffee has been reduced from 25 to 10 percent.
It may be recalled that the CBR has made drastic reduction in the duty drawback rates on the export of different types of tea from July 8, 2004.
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