5% Duty Cut on RBD Palm Oil, RBD Palmolein, RBD Palm Stearin and any Palm Oil (other than Crude Palm Oil) w.e.f 21 Dec 2021

· Concession Effective from 21 Dec 2021 to 31 March 2022

[Notification No. 53/2021-Customs dated 20 December, 2021]

Seeks to reduce BCD on Refined palm oil and its fractions from 17.5% to 12.5% 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), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 48/2021-Customs, dated the 13th October, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i), vide number G.S.R. 733(E), dated the 13th October, 2021, namely:-

In the said notification, in the Table, against S. No. 4, in column (4), for the entry, the entry “12.5%” shall be substituted.

2. This notification shall come into effect on the 21st December, 2021.

[F. No. 354/77/2021-TRU]