Import duty on edible oil hiked by 5 per cent
Updated: Sep 18, 2015 01:09:21pm
According to a Central Board of Excise and Customs (CBEC) notification, customs or import duty on edible oil in all categories has been increased by 5 per cent.
Duty on crude edible oil has been increased from 7.5 per cent to 12.5 per cent and on refined edible oil from 15 per cent to 20 per cent.
Revenue Secretary Hasmukh Adhia on Wednesday reviewed the situation following which the decision has been take.
Imports of vegetable oils, which includes both edible and non-edible oils, rose by 23 per cent to 11.72 million tonnes during November-August period as against 9.52 million tonnes in the same period last year. (KNN Bureau)