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of <h1>India Hikes Customs Duty on Edible Oils: New Rates Set at 7.5% and 15% per Notification No. 34/2014</h1> The Government of India, through the Ministry of Finance, has issued Notification No. 34/2014 to amend Notification No. 12/2012-Customs, increasing customs duty on certain crude and refined edible oils. The amendments specify revised duty rates of 7.5% and 15% for various items listed in the notification's table. These changes are made under the powers conferred by section 25 of the Customs Act, 1962, and are deemed necessary in the public interest. The notification was published on December 24, 2014, and details the specific tariff adjustments for each item number affected.
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