Duty of customs incresed by 5 percent, for a period of 180 days, on imports of RBD Palmolein/Palm Oil originating in Malaysia and imported under India-Malaysia Comprehensive Economic Cooperation Agreement

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.... MINISTRY OF FINANCE (DEPARTMENT OF REVENUE) Notification No. 29/2019-Customs New Delhi dated the 4th September, 2019 G.S.R. 632 (E).- Whereas the Directorate General of Trade Remedies in the matter concerning imports of "Refined Bleached Deodorized Palmolein and Refined Bleached Deodorized Palm Oil" (hereinafter referred to as the subject goods), falling under tariff item [1511 90 10] or tari....

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....the import of subject goods into India has shown significant increase. Imports of subject goods from Malaysia increased from 626,362 MT in 2016-17 to 2,596,225 MT in January-June, 2019 (on annualized basis) thus showing an increase of 314 percent; (b) quarterly movement in imports shows that imports were just 27,206 MT in October-December, 2018, which surged to 804528 MT in April-June, 2019 thus....

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.... Comprehensive Economic Cooperation Agreement. Now, therefore, in exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with rule 9 of the said Rules, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby increases the rate of duty of customs by 5 percent, on imports of subject goods for 180 d....