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of <h1>Ministry of Finance Sets 10% Customs Duty on Potato Imports Up to 10,00,000 Metric Tons Until January 2021.</h1> The notification issued by the Ministry of Finance on 28th October 2020 prescribes a concessional basic customs duty rate of 10% on potato imports up to a quota of 10,00,000 metric tons until 31st January 2021. This exemption is granted under the Customs Act, 1962, and is subject to conditions outlined in the annexure, including the allocation of the tariff rate quota (TRQ) by the Directorate General of Foreign Trade. The TRQ authorization is to be issued electronically and managed through the ICES system. This notification was rescinded effective 2nd February 2022.
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