CBIC issued exemption on import of Crude Soya-bean oil, Crude Palm oil etc. from Customs Duty and AIDC
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- Last Updated on 16 October, 2021
Notification No. 48/2021-Customs and Notification No. 49/2021-Customs Dated October 13th, 2021
The CBIC has issued notification to provide full exemption from Customs Duty on import of Crude Soya-bean oil, Crude Palm oil and Crude Sunflower seed oil. This notification has also provided partial exemption to several other edible oils such as Soya-bean oil, Sunflower oil etc.
Another notification is also issued to provide exemption from Agriculture Infrastructure and Development Cess (AIDC) on import of Crude Soya-bean oil and Crude Sunflower seed oil in excess of 5% and for Crude Palm oil in excess of 7.5%. These notifications shall come into effect from 14th October, 2021 and will be applicable till 31st March, 2022.
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