Crude and Refined Oil Duty Raised by 12.5% to 15%

· Crude Palm Oil Duty Raised to 30% from 15%

· Refined Palm Oil to 40% from 25%

· Soyabean Oil to 30% from 17.5%; Soyabean Edible grade to 35% from 20%

· Sunflower seed oil (Crude) to 25% from 12.5% and (Edible grade) to 35% from 20%

· Mustard, Rapeseed and Colza oil (Cude) to 25% from 12.5% and (Edible grade) to 35% from 20%

Indian government hiked The import duties on cooking oil in a bid to support domestic farmers. The import tax on crude palm oil has been hiked to 30 per cent, , said a government order issued on Friday, which is twice what was charged earlier. Meanwhile, On the duty on refined palm oil has been increased to 40 per cent from 25 percent earlier. India is the world's biggest importer of edible oil.

As per the government order, the import tax on crude soy oil coming to India, which earlier was 17.5 per cent, has been raised to 30 per cent. Meanwhile, the import tax on refined soy oil has been to 35 percent from 20 percent earlier, the order said. Bulk of India's palm oil imports come mostly from Indonesia and Malaysia, whereas soy oil is mostly imported from Argentina and Brazil.

[Ref: Notification No. 87/2017-Customs dated 17 November 2017]

Seeks to (1) Increase the BCD on crude palm oil of edible grade from 15% to 30%; and (2) Increase the BCD on refined palm oil of edible grade from 25% to 40%. (3) Increase the BCD on crude sunflower oil from 12.5% to 25%; (4) Increase the BCD on refined sunflower oil of edible grade from 20% to 35%; (5) Increase the BCD on crude soya bean oil from 17.5% to 30%; (6) Increase the BCD on refined soya bean oil from 20% to 35%; (7) Increase the BCD on crude rapeseed oil including canola oil (Low erucic acid rapeseed oil), mustard oil and colza oil from 12.5% to 25%; (8) Increase the BCD on refined rapeseed oil including canola Oil (Low erucic acid rapeseed oil), mustard oil, and colza oil from 20% to 35%;

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. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely:-

In the said notification, in the Table,-

(i) against serial number 57, in column (4) against clauses (A), (B) and (C) of item II of column (3), for the entry “15%” the entry “30%” shall be substituted;

(ii) against serial number 61, in column (4), for the entry “17.5%” the entry “30%” shall be substituted;

(iii) against serial number 62, in column (4), for the entry “20%” the entry “35%” shall be substituted;

(iv) against serial number 63, in column (2), for the entry “1508, 1509, 1510, 1512, 1513, 1514 or 1515” the entry “1508, 1509, 1510, 1512 (other than 1512 11 10), 1513, or 1515” shall be substituted;

(v) against serial number 64, in column (2), for the entry “1508, 1509, 1510, 1512, 1513, 1514 or 1515” the entry “1508, 1509, 1510, 1512 (other than 1512 19 10), 1513, or 1515” shall be substituted;

(vi) against serial number 65, in column (4), for the entry “25%” the entry “40%” shall be substituted;

(vii) against serial number 70, in column (4), for the entry “12.5%” the entry “25%” shall be substituted;

(viii) against serial number 71, in column (4), for the entry “20%” the entry “35%” shall be substituted;

(ix) against serial number 73, in column (4), for the entry “12.5%” the entry “25%” shall be substituted;

(x) against serial number 74, in column (4), for the entry “20%” the entry “35%” shall be substituted;

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