Seeks to further amend notification No.12/2012-Customs dated the 17th March, 2012, so as to: 1. Reduce import duty on potatoes from 30% to 10% up to 31.10.2016. 2. Reduce import duty on wheat from 25% to 10% up to 29.02.2017. 3. Reduce import duty on palm oil from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade - 51/2016 - Customs -Tariff
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Import duty amendment reduces duties on potatoes, wheat and edible palm oil with staggered effective dates and provisos. The notification amends Notification No.12/2012-Customs by inserting new Table entries and substituting duty rates: potatoes (HS 0701 90 00) duty reduced to 10% (new serial 18A) and wheat (HS 1001 19 00 / 1001 99 10) duty reduced to 10% (new serial 34A), with proviso clauses specifying applicability after the stated dates. It also substitutes lower duty rates for edible crude palm oil (reduced to 7.5%) and edible refined palm oil (reduced to 15%) against serial numbers 51 and 59. The amendments are effected under section 25(1) of the Customs Act, 1962.
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Import duty amendment reduces duties on potatoes, wheat and edible palm oil with staggered effective dates and provisos.
The notification amends Notification No.12/2012-Customs by inserting new Table entries and substituting duty rates: potatoes (HS 0701 90 00) duty reduced to 10% (new serial 18A) and wheat (HS 1001 19 00 / 1001 99 10) duty reduced to 10% (new serial 34A), with proviso clauses specifying applicability after the stated dates. It also substitutes lower duty rates for edible crude palm oil (reduced to 7.5%) and edible refined palm oil (reduced to 15%) against serial numbers 51 and 59. The amendments are effected under section 25(1) of the Customs Act, 1962.
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