ADIC Slashed by 15% on Crude Soyabean Oil and Crude Sunflower Oil; Crude Palm Oil Cut by 12.5%

[Notification No. 49/2021-Customs dated 13 October 2021]

Seeks to reduce AIDC on crude soya, sunflower and palm oils till 31.03.2022

G.S.R. (E). - In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962) read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts goods of the description specified in column (3) of the Table below and falling within the Chapter, heading or sub-heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as specified in column (2) of the said Table, from so much of the Agriculture Infrastructure and Development Cess leviable thereon under the said section of the Finance Act, 2021 (13 of 2021), as is in excess of the amount calculated at the rate specified in column (4) of the said Table, namely: -

 

Table

S. No.

Chapter or Heading or sub- heading or tariff item of the First Schedule

Description of goods

Rate

(1)

(2)

(3)

(4)

1.

1507 10 00

Crude Soya-bean oil, whether or not degummed

5%

2.

1511 10 00

Crude Palm Oil

7.5%

3.

1512 11 10

Crude Sunflower seed oil

5%

2. This notification shall come into effect on the 14th October, 2021, and will remain in force up to and inclusive of the 31st March, 2022.

[F. No. CBIC-190354/226/2021-TRU]