Finance Ministry hikes rate of Custom Duty on Vegetable Oils

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The Central Government vide Notification No. 34/2014-Customs dated 24th December 2014 has increased the customs duty on crude and refined vegetable oils by 5 percent. The existing and amended rates are as under:-

 
S. No.
Chapter or Heading or sub-heading or tariff item
Description of goods
Rate of duty
%
EXISTING
AMENDED
(1)
(2)
(3)
(4)
(5)
51
15
Crude Palm Oil – 1511
2.5
7.5
55
15071000
All goods (Soya)
2.5
7.5
56
15079010
All goods (Soya)
10.0
15.0
57
1508, 1509, 1510, 1512, 1513, 1514, or 1515
All goods, crude and edible grade (Ground nut)
2.5
7.5
58
1508,1509, 1510, 1512, 1513, 1514 or 1515
All goods, refined and edible grade
10.0
15.0
59
1511 90
All goods (Palm)
10.0
15.0
62
15121110
All goods (sunflower)
2.5
7.5
63
15121910
All goods(sunflower)
10.0
15.0
65
1514 11 or 1514 91
All goods, edible grade (rape, colza or mustard)
2.5
7.5
66
1514 19 or 15 14 99
All goods, edible grade (rape, colza or mustard)
10.0
15.0
69
1516 20
All goods, edible grade (animal or Vegetable fats)
10.0
15.0
71
1517 10 21, 1517 90 10, 1517 90 20, 1518 00 11, 1518 00 21 or 1518 00 31
All goods, edible grade (margarine)
10.0
15.0
Hope the information will assist you in your Professional endeavors.
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