ANNOUNCEMENT 09 Jan 2014In January 2014, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
Notification No. 02/2014-Customs
Ealier notification - 12/2012-Customs (17 March 2012)
On 9 January 2014, the Cabinet Committee on Economic Affairs India approved the increase in the customs duty applicable on the import of refined edible oil of vegetable origin. The duty has been increased from 7.5% to 10%.
The measure has been justified as a means to protecting the interests of the domestic farmers and the refining industry by maintaining a reasonable gap between the import duties on crude (2.5%) and refined edible oil.
The official notification for this measure was published on 20 January 2014. The duty on these oils were further increased to 15% on 24 December 2014.