Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Govt scraps basic customs duty, cuts agri cess on crude palm, soyabean and sunflower oil.


Date: 14-10-2021
Subject: Govt scraps basic customs duty, cuts agri cess on crude palm, soyabean and sunflower oil
The government on Wednesday scrapped basic customs duty as well as slashed agri cess on crude varieties of palm, soyabean and sunflower oil till March 2022, a move which will help cool prices and increase domestic availability in the festive season.

The duty cuts will be effective from October 14 and will remain in force till March 31, 2022, the Central Board of Indirect Taxes and Customs (CBIC) said in a notification.

Crude palm oil will now attract agri infrastructure development cess (AIDC) of 7.5 per cent, while the rate will be 5 per cent for crude soyabean oil and crude sunflower oil.

Post reduction, the effective customs duty on crude varieties of palm, soyabean and sunflower oil will be 8.25 per cent, 5.5 per cent and 5.5 per cent respectively.

Besides, the basic customs duty on refined varieties of sunflower, soyabean, palmolein and palm oil has been slashed to 17.5 per cent each from 32.5 per cent at present.

“The government has slashed import duties on edible oils because of high retail prices in the domestic market and the festive season,” Solvent Extractors’ Association of India Executive Director B V Mehta said.

Source:financialexpress.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-11-2021
Notification No.92/2021 - Customs (N.T.)
Exchange rates Notification No.92/2021-Cus (NT) dated 18.11.2021

Date: 03-11-2021
Notification No.90 /2021 - Customs (N.T.)
Exchange rates Notification No.90/2021-Cus (NT) dated 03.11.2021

Date: 03-11-2021
Notification No.52 /2021-Customs
Seeks to amend Notification No. 18/2019-Customs reducing Road and Infratructure Cess (RIC) on Petrol and Diesel.

Date: 29-10-2021
Notification No.88/2021 - Customs (N.T.)
Exchange rates Notification No.88/2021-Cus (NT) dated 29.10.2021

Date: 29-10-2021
Notification No. 87/2021-CUSTOMS (N.T.)
Fixation of Tariff Value of Edible Oils, Brass Scrap, Areca Nut, Gold and Silver- Reg

Date: 27-10-2021
Notification No. 85/2021-Customs (N.T.)
Courier Imports and Exports (Electronic Declaration and Processing ), Amendment, Regulations, 2021

Date: 27-10-2021
Notification No. 86/2021-Customs (N.T.)
Courier Imports and Exports (Clearance), Amendment, Regulations, 2021

Date: 27-10-2021
Notification No. 83/2021-Customs (N.T.)
Seeks to further amend Customs Tariff (Identification, Assessment and Collection of Countervailing Duty on Subsidised Articles and for Determination of Injury) Rules, 1995 to introduce Anti-Absorption provisions in these rules.

Date: 27-10-2021
Notification No. 84/2021-Customs (N.T.)
Seeks to further amend Customs Tariff (Identification, Assessment and Collection of Anti-dumping Duty on Dumped Articles and for Determination of Injury) Rules, 1995 to introduce the Anti-Absorption provisions and make certain other miscellaneous changes.

Date: 22-10-2021
Notification No. 50/2021-Customs
Seeks to amend notification No. 96/2008- Customs dated 13.08.2008 to include Sierra Leone



Exim Guru Copyright © 1999-2021 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001