Customs duty on Palm Oil & Edible Oil imports lowered

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Customs duty on Palm Oil & Edible Oil imports lowered

AIT News Network

NEW DELHI. To contain inflation and prices of essential items; the Government has lowered Customs duty with effect from 21st March 2008 vide Notification No.37/2008-Customs dated 20th March, 2008 . The lower rates will apply to Bills of Entry filed from 21^st March 2008 onwards as under :

· Duty on Crude palm oil including crude palmolein lowered from 45% to 20%;

· Duty on Refined palm oil including RBD palmolein lowered from 52.5% to 27.5%;

· Duty on Crude Mustard/rapeseed/colza/canola oils lowered from 75% to 20%;

· Duty on Refined Mustard/rapeseed/colza/canola oils lowered from 75% to 27.5%;

· Duty on Crude sunflower oil lowered from 40% to 20%;

· Duty on Refined sunflower oil lowered from 50% to 27.5%.

· Duty from Semi-milled or wholly milled rice lowered from 70% to Nil. This exemption would be available only upto 31.03.2009.

· Full exemption from customs duty available to wheat has been extended beyond the expiry date of 31^st December, 2007 and wheat flour has also been fully exempted from customs duty.

Notification No. 37/2008-Customs dated 20th March, 2008

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1^st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R.118 (E), dated the 1^st March, 2002, namely:-

In the said notification, -

I. in the preamble, in the proviso, after clause (iad), the following clause shall be inserted, namely:-

“(iae) the goods specified against serial No.22AB of the said Table on or after the 1^st day of April, 2009.”;

II. in the Table,-

(i) after S.No. 22AA and the entries relating thereto, the following S.No. and entries shall be inserted, namely:-

(1)

(2)

(3)

(4)

(5)

(6)

“22AB.

1006 30

All goods

Nil

-”;

(ii) against S.No. 30, for the entries occurring in column (4) against clauses (A), (B) and (C) of item II of column (3), the entry “20%” shall respectively be substituted;

(iii) against S.No. 36A, for the entry in column (4), the entry “20%” shall be substituted;

(iv) against S.No. 36B, for the entry in column (4), the entry “27.5%” shall be substituted;

(v) after S.No.37 and the entries relating thereto, the following S.Nos. and entries shall be inserted, namely:-

(1)

(2)

(3)

(4)

(5)

(6)

“37A.

1514 11 or 1514 91

All goods, edible grade

20%

37B.

1514 19 or 15 14 99

All goods, edible grade

27.5%

-”;

(vi) against S.No. 434, for the entry in column (4), the entry “27.5%” shall be substituted;

2. This notification shall come into force with effect from the 21^st day of March, 2008.

[F.No. 354/187/2007-TRU]
(S.Bajaj)
Under Secretary to the Government of India

Note: The principal notification was published in the Gazette of India, Extraordinary, vide number G.S.R.118(E), dated the 1^st March, 2002 and was last amended by notification No. 21/2008-Customs, dated the 1^st March, 2008 which was published in the Gazette of India, Extraordinary vide number G.S.R.120(E), dated the 1^st March, 2008.