CBIC reduces BCD on crude and refined soya, sunflower and palm oils till 31-Mar-2022

14 October 2021

CBIC reduces BCD on crude and refined soya, sunflower and palm oils till 31-Mar-2022

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The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No 48/2021 – Customs dated 13th October 2021 reduces the reduces BCD on crude and refined soya, sunflower and palm oils till 31st March 2022.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 48/2021 – Customs
New Delhi, the 13th October, 2021

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 exempts the goods of the description specified in column (3) of the Table below, falling within the Chapter, heading, sub–heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) specified in column (2) of the said Table, when imported into India, from so much of the duty of customs leviable thereon under the said First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the standard rate
specified in the corresponding entry in column (4) of the said Table, namely –

Table

S. No.Chapter or Heading or subheading or tariff itemDescription of goodsStandard rate
(1)(2)(3)(4)
11507 10 00Crude Soya-bean oil, whether or not degummedNil
21507 90 10Soya-bean oil, edible grade17.50%
31511 10 00Crude Palm OilNil
41511 90Refined bleached deodorized(RBD) palm oil, RBD palmolein, RBD palm stearin and any palm oil other than crude palm oil17.50%
51512 11 10Crude Sunflower seed oilNil
61512 19 10Sunflower oil, edible grade17.50%
  1. 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]
(Rajeev Ranjan)
Under Secretary to the Government of India

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