Import Duty on Edible Oils increased from Nil to 2.5%
GOVERNMENT has imposed a Customs duty of 2.5% on edible oils, which attracted a nil rate of duty earlier. Duty on Crude palm oil, Crude Palmolein, Fractions of crude palm oil, Crude Soya-bean oil, Groundnut oil, Olive Oil, other oils, sunflower/cottonseed oil, coconut oil, mustard oil are covered in the hike. Notification No. 12/2012-Cus is amended.
The existing and revised rate of duty as per the notification is as given below:
S. No. | Chapter or Heading or sub-heading or tariff item | Description of goods | Standard rate | Revised Standard Rate |
|---|---|---|---|---|
(1) | (2) | (3) | (4) | (5) |
51 | 15 | II. The following goods, of edible grade namely,- | Nil | 2.5% |
(A) Crude palm oil falling under heading 1511, having an acid value of 4 or more and total carotenoid (as beta carotene) in the range of 250 mg/kg. to 2500 mg/kg., in loose or bulk form for manufacture of refined oil, refined palmolein, vanaspati, bakery shortening or inter-esterified fats | Nil | 2.5% | ||
(B) Crude Palmolein falling under heading 1511, having an acid value of 4 or more and total carotenoid (as beta carotene) in the range of 500 mg/kg. to 2500 mg/kg., in loose or bulk form for manufacture of refined oil, refined palmolein, vanaspati, bakery shortening or inter-esterified fats | Nil | 2.5% | ||
(C) Fractions of crude palm oil (other than crude palmolein) falling under heading 1511, having an acid value of 2 or more and total carotenoid (as beta carotene) in the range of 500 mg/kg. to 2500 mg/kg., in loose or bulk form | Nil | 2.5% | ||
Explanation.-For the purposes of this entry, “Crude palm oil” means fixed vegetable oils, fluid or solid, obtained by pressure, if they have undergone no processing other than decantation, centrifugation or filtration, provided that, in order to separate the oils from solid particles only mechanical force, such as gravity, pressure or centrifugal force, has been employed, excluding any absorption filtering process, fractionalization or any other physical or chemical process. If obtained by extraction an oil shall continue to be considered as “crude”, provided it has undergone no change in colour, odour or taste when compared with corresponding oil obtained by pressure | ||||
55. | 15071000 | All goods | Nil | 2.5% |
57 | 1508, 1509, 1510, 1512, 1513, 1514, or 1515 | All goods, crude and edible grade | Nil | 2.5% |
62 | 15121110 | All goods | Nil | 2.5% |
65 | 1514 11 or 1514 91 | All goods, edible grade | Nil | 2.5% |
Notification No. , Dated: January 23, 2013