Govt. cuts custom duties on edible oil to ease retail prices
The Hindu
With the reduction, the effective duty on crude palm oil, crude soyoil and crude sunflower oil will come down to 24.75% whereas effective duty on refined palm oil, soyoil and sunflower oil will be 35.75%.
The government has slashed base custom duties on palm oil, soy oil and sunflower oil to ease prices, according to the Finance Ministry. The base import tax on crude palm oil has been reduced to 2.5% from 10%, while the tax on crude soy oil and crude sunflower oil has been reduced to 2.5% from 7.5%, the Finance Ministry said in a notification issued late on Friday. The notification came into effect from Saturday.More Related News
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