The Central Board of Indirect Taxes and Customs (CBIC) vide its Notification No. 34/2021-Customs (Tariff) dated 29th June 2021 reduces the basic customs duty on Crude Palm Oil and Palm Oil other than Crude Palm Oil till 30th September 2021.
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)
Notification No. 34/2021-Customs
New Delhi, the 29th June 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, 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 –
|S. No.||Chapter, heading, sub-heading or tariff item||Description||Standard Rate|
|1||1511 10 00||Crude Palm Oil||10%|
|2||1511 90||All goods (RBD Palm Oil, RBD|
Palmolein, RBD Palm Stearin and
any Palm Oil other than Crude
2. This notification shall come into effect on 30th June 2021 and will remain in force up to and inclusive of the 30th September 2021.
[F. No. CBIC-190354/87/2021-TRU Section-CBEC]
Under Secretary to the Government of India