Image Source : PIXABAY/REPRESENTATIVE Govt bans import of cigarette lighters underneath Rs 20
Import of cigarette lighters: The authorities on Thursday prohibited imports of cigarette lighters if the worth per unit is lower than Rs 20, with a view to discourage inbound shipments of the product.
“The import policy of cigarette lighters is revised from ‘free’ to ‘prohibited’. However, import shall be free if CIF value (cost, insurance, and freight) is Rs 20 or above per lighter,” the directorate common of overseas commerce (DGFT) stated in a notification.
CIF worth is a commerce time period utilized in worldwide commerce to find out the full worth of products being imported. The prohibition has been imposed on pocket lighters, fuel fuelled, non-refillable or refillable.
Imports of pocket lighters, fuel fuelled, non-refillable stood at USD 0.66 million in 2022-23. It was USD 0.13 million in April this fiscal.
Similarly, the inbound shipments of pocket lighters, fuel fuelled, and refillable, stood at USD 8.87 million in 2022-23 in opposition to USD 7 million in 2021-22. It was USD 0.96 million in April of this fiscal. These are imported primarily from Spain, Turkey and the UAE.
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(With inputs from PTI)
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Source: www.indiatvnews.com
