ANNOUNCEMENT 19 Jul 2011In July 2011, the government of India announced a change to the import-specific domestic duties.
NUMBER OF INTERVENTIONS
On 19 July 2011, vide Notification No. 63/2011 - Customs, the Government of India has increased the effective tax rate on akyl esters of long chain fatty acids, obtained from vegetable oils, commonly known as bio-diesels, to 10%, as opposed to the earlier 2.5%.
The effective tax rate is the duty payable after exemptions. Bio-diesels have received exemption from duty liability in excess of 10% only vide amendment to the General Duty Exemptions (GDE) contained in Notification No. 21/2002 - Customs (notification dated 1 March 2002).