Seeks to amend the notification No. 50/2021-Customs dated 30.06.2017 and notification No. dated 11/2021 dated 01.02.2021 in order to reduce and rationalise the import duties on Palm, Sunflower and Soya-bean oils . - 42/2021 - Customs -Tariff
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Import duty reduction on edible oils: revised customs tariff entries alter import duty treatment for specified oils effective immediately. The notification amends Notification No. 50/2017 Customs by substituting revised percentage tariff entries at specified serial numbers to reduce and rationalise import duties on palm, sunflower and soya bean oils, and amends Notification No. 11/2021 Customs by substituting the description at the relevant serial number with 'Crude Palm Oil' and replacing its tariff entry with a revised percentage rate; the amendments are made under the cited statutory powers and take effect the day after publication.
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Import duty reduction on edible oils: revised customs tariff entries alter import duty treatment for specified oils effective immediately.
The notification amends Notification No. 50/2017 Customs by substituting revised percentage tariff entries at specified serial numbers to reduce and rationalise import duties on palm, sunflower and soya bean oils, and amends Notification No. 11/2021 Customs by substituting the description at the relevant serial number with "Crude Palm Oil" and replacing its tariff entry with a revised percentage rate; the amendments are made under the cited statutory powers and take effect the day after publication.
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