30th MAY 2026 ENGLISH TNPSC CURRENT AFFAIRS PDF TNPSC SHOUTERS
Central Government Orders Complete Waiver of Customs Duty on Cotton Imports
- While an import duty of 11 percent was previously levied on cotton, the Central Government has now issued an order completely waiving the customs duty on cotton imports.
- This tax exemption has been granted with the objective of boosting cotton stocks for the Indian textile industry.
- It has been announced that imported cotton will be granted a complete exemption from both customs duty and the 'Agriculture Infrastructure and Development Cess.' Furthermore, this tax waiver measure will remain in effect from June 1st through October 31st.
- In essence, the Central Government has stated that this tax exemption has been provided with the specific aim of increasing the cotton inventory available to the Indian textile sector.
