-Outlook India The latest development will cut the effective import tax on crude palm oil, crude soya oil and crude sunflower oil from 24.75 percent till now to 0. The government on Wednesday reduced various import taxes on palm oil, soyoil and sunflower oil ahead of the festive season till March 31, 2022, said the Bureau of Indirect Taxes and Customs. According to Moneycontrol, the latest development will cut the effective import tax...
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Govt cuts import duty on crude palm oil to lower retail edible oil prices
-PTI/ The Hindu Currently, basic Customs duty on crude palm oil is 15%, while it is 45% for all other categories of palmolein. The government on Tuesday reduced basic Customs duty on crude palm oil to 10%, which will help bring down the edible oil prices in the retail market. The Central Board of Indirect Taxes and Customs (CBIC) in a notification cut the basic Customs duty on crude palm oil to 10%...
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