SME Times is powered by   
Search News
Just in:   • Goyal urges textile industry to focus on speed, skill and scale  • Goyal reviews the Amended Technology Up-gradation fund Scheme  • Stage set for pvt investment cycle  • Service rendered by govt, not its agency, only exempt from GST  • Cochin Airport ventures into hydropower production 
Last updated: 13 Oct, 2021  

Oil.Edible.9.Thmb.jpg Govt reduces levies on import of edible oils

Oil.Edible.9.jpg
   Top Stories
» Goyal urges textile industry to focus on speed, skill and scale
» Goyal reviews the Amended Technology Up-gradation fund Scheme
» Stage set for pvt investment cycle
» PM interacts with domestic vaccine manufacturers
» Goyal calls for free trade within rules-based multilateral trading system
SME Times News Bureau | 13 Oct, 2021
India on Wednesday reduced the rate of basic custom duty and cess imposed on import of various edible oils, effective from Thursday.

The move comes after international prices of soyabean, sunflower seed, crude palm, and RBD Palmolein based edible oils rose substantially.

In two seperate customs notifications on Wednesday, the Ministry of Finance reduced the levy of basic custom duty and the Agriculture Infrastructure and Development Cess on the import of these edible oils.

The changes, according to the notifications, are effective from Thursday and will remain in force up to March 31, 2022.

As per the notification, the levy of basic custom duty has been removed on crude soyabean oil (whether or not degummed), crude palm oil, and crude sunflower.

Besides, the AIDC levied on import of crude soyabean oil (whether or not degummed), and crude sunflower seed oil, has been reduced to 5 per cent, and on crude palm oil to 7.5 per cent.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 25 Oct, 2021
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter