New Delhi, August 25: The government has revised the timeline for processing and selling raw sugar imported under a duty-free scheme. Importers now have a maximum of two months from the date of filing the bill of entry to convert raw sugar into white or refined sugar for sale in the domestic market.
The Directorate General of Foreign Trade (DGFT) amended the rules announced earlier in August, which allowed the import of 1 million tons of raw sugar under the Tariff Rate Quota (TRQ) scheme.
Previously, the regulations mandated that raw sugar imported under the TRQ be processed into white or refined sugar and sold in the domestic market by October 31. This specific deadline has now been removed. Importers must process and sell the imported raw sugar within two months from the date of filing the bill of entry.
Additionally, on August 20, the government permitted the duty-free import of 1 million tons of raw sugar under the TRQ scheme until October 31, in response to a sharp rise in sugar prices in the domestic market ahead of the festive season.
However, the latest amendment does not alter any other rules and conditions outlined in the notification issued on August 20.
The government also allowed for a one-time substitution of existing ‘Advance Authorization’ issued under SION E-52 into the TRQ scheme by August 20, enabling the inclusion of raw sugar actually imported under these authorizations.
This includes both refined sugar that was pre-prepared and sugar to be produced from imported raw sugar, subject to compliance with GST payment exemptions and other stipulated conditions at the time of import.
This decision aims to enhance the availability of sugar in the domestic market and alleviate price pressures ahead of the festive season, which typically sees an increase in sugar demand.
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