TaxTMI 
TaxTMI 
Revision of tariff value on imported edible oils
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....evision of tariff value on imported edible oils <br>News and Press Release<br>Dated:- 17-1-2013<br><BR>Press Information Bureau Government of India Cabinet Committee on Economic Affairs (CCEA) 17-J....
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....anuary-2013 13:54 IST The Cabinet Committee on Economic Affairs has approved to defreeze the tariff values of all edible oils, Palm Oil - Crude; Palm Oil - RBD (Refined Bleached Deoderized); Palm Oil....
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.... - others; Palmolein - Crude; Palmolein - others; and Soyabean Oil - Crude and notify their tariff values on the basis of their prevailing international prices. An alignment of notified tariff values....
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.... with international prices will have a positive impact on the duty collected from import of edible oils and will provide an even-field to the domestic refining industry. Background: Tariff value is ....
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....fixed under Section 14 (2) of the Customs Act, 1962, inter alia, on the above edible oils and notified on a fortnightly basis. Since 31.7.2006, tariff values of edible oils have remained unchanged, as....
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.... a fiscal measure to contain inflation. The freeze has led to a significant variation between the notified tariff values and the computed landed prices based on international prices of the edible oils....
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...., adversely affecting the revenue collection and also the domestic refining industry. Hence, it is proposed to align the tariff values with international prices of the edible oils. **** SC/SK<BR> Ne....
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....ws - Press release - PIB....