Friday, December 9th, 2022 11:12:43

Govt allows duty-free import of 20 lakh tonnes of crude soyabean and sunflower oil per annum

Updated: May 25, 2022 6:09 pm

Centre has allowed import of 20 Lakh Metric Tonnes each of Crude Soyabean Oil and Crude Sunflower Seed Oil per year for a period of two years at nil rate of customs duty and Agricultural Infrastructure and Development Cess.

This will provide significant relief to the consumers.

The exemption from customs duty and Agricultural Infrastructure and Development Cess will be effective from today.

The Ministry of Finance in a notification said, the duty-free import of 20 lakh Metric Tonnes of Crude Soyabean Oil and Crude Sunflower Seed Oil per year will be applicable for financial years 2022-23 and 2023-24.

The exemption will help cool domestic prices and control inflation.

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