Vegetable Oils Import Duty Cut by 5%

Ø 12.5% to 7.5%

Ø 20% to 15%

· Potatoes Duty Slashed to 10% from 30% for 38 Days

· Wheat Duty Cut by 15% to 10% Till 29 Feb 2016

[Ref: Notification 51/2016-Customs dated 23-09-2016]

Seeks to further amend notification No.12/2012-Customs dated the 17th March, 2012, so as to: 1. Reduce import duty on potatoes from 30% to 10% up to 31.10.2016. 2. Reduce import duty on wheat from 25% to 10% up to 29.02.2017. 3. Reduce import duty on palm oil from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade.

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No.12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub- section (i), vide number G.S.R. 185(E), dated the 17th March, 2012, namely:-

In the said notification, (a) in the Table,-

(i) after serial number 18 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

“18 A

0701 90 00

Potatoes

10%

-

-”

(ii) after serial number 34 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

“34 A

1001 19 00 or 1001 99 10

Wheat

10%

-

-”

(iii) against serial number 51, in column (4) against clauses (A), (B) and (C) of item II of column (3), for the entry “12.5%” the entry “7.5%” shall be substituted;

(iv) against serial number 59, in column (4), for the entry “20%” the entry “15%”shall be substituted;

(b) after the Table, in the proviso, after clause (ad), the following clause shall be inserted, namely:-

“(ae) the goods specified against serial no. 18A of the said Table on or after the first day of November, 2016";

(af) the goods specified against serial no. 34A of the said Table on or after the first day of March, 2017”.

[F.No. 354/203/2012- TRU]