9911796707
TMI BlogRevision of tariff value on imported edible oilsX X X X Extracts X X X X X X X X Extracts X X X X ..... Revision of tariff value on imported edible oils X X X X Extracts X X X X X X X X Extracts X X X X ..... January-2013 13:54 IST The Cabinet Committee on Economic Affairs has approved to defreeze the tariff values of all edible oils, Palm Oil - Crude; Palm Oil - RBD (Refined Bleached Deoderized); Palm Oi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l - others; Palmolein - Crude; Palmolein - others; and Soyabean Oil - Crude and notify their tariff values on the basis of their prevailing international prices. An alignment of notified tariff value ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s with international prices will have a positive impact on the duty collected from import of edible oils and will provide an even-field to the domestic refining industry. Background: Tariff value is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fixed under Section 14 (2) of the Customs Act, 1962, inter alia, on the above edible oils and notified on a fortnightly basis. Since 31.7.2006, tariff values of edible oils have remained unchanged, a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s a fiscal measure to contain inflation. The freeze has led to a significant variation between the notified tariff values and the computed landed prices based on international prices of the edible oil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s, adversely affecting the revenue collection and also the domestic refining industry. Hence, it is proposed to align the tariff values with international prices of the edible oils.
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SC/SK X X X X Extracts X X X X X X X X Extracts X X X X ..... ews - Press release - PIB ..... X X X X Extracts X X X X X X X X Extracts X X X X
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