ANNOUNCEMENT 05 Oct 2015In October 2015, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
Notification No. 49/2015-Customs
Notification No. 24/2016-Customs
Economic Times - 6 Oct 2015 - Government raises import duty on ghee, butter to 40%
The Asian Age - 7 October 2015 - Import duty hike on ghee, butter; more items soon
On 5 October 2015, the Indian Ministry of Finance through Notification 49/2015-Customs increased the import duty on butter, butter oil and ghee (clarified butter) from 30% to 40%. The increased duty is valid until 31 March 2016.
According to news reports, the measure was initiatied to protect the domestic industry from global fall in prices.
The increased import duty was 28 March 2016 extended until 30 September 2016 (Notification No. 24/2016-Customs) and later extended until 31 March 2017 (Notification No. 53/2016-Customs).