CBEC reduces import duty on potatoes, wheat & palm oil

Seeks to further amend notification No.12/2012-Customs dated the 17th March, 2012, so as to: 1. Reduce import duty on potatoes from 30% to 10% up to 31.10.2016. 2. Reduce import duty on wheat from 25% to 10% up to 29.02.2017. 3. Reduce import duty on palm oil from 12.5% to 7.5% for crude palm oil of edible grade, and from 20% to 15% for refined palm oil of edible grade.

GOVERNMENT OF INDIA

MINISTRY OF FINANCE

(Department of Revenue)

Notification No. 51/2016-Customs

New Delhi, the 23rd September, 2016

G.S.R. (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India, Ministry of Finance (Department of Revenue), No.12/2012-Customs, dated the 17th March, 2012, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 185(E), dated the 17th March, 2012, namely:-

In the said notification,

(a) in the Table,-

(i) after serial number 18 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

(ii) after serial number 34 and the entries relating thereto, the following serial number and entries shall be inserted, namely:-

(iii) against serial number 51, in column (4) against clauses (A), (B) and (C) of item II of column (3), for the entry “12.5%” the entry “7.5%”” shall be substituted;

(iv) against serial number 59, in column (4), for the entry “20%” the entry “15%”” shall be substituted;

(b) after the Table, in the proviso, after clause (ad), the following clause shall be inserted, namely:-

“(ae) the goods specified against serial no. 18 A of the said Table on or after the first day of November, 2016″;

(af) the goods specified against serial no. 34 A of the said Table on or after the first day of March, 2017”.

[F.No. 354/203/2012- TRU]

(Mohit Tewari)

Under Secretary to the Government of India

Note: The principal notification No.12/2012-Customs, dated the 17th March, 2012 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 185(E), dated the 17th March, 2012 and last amended vide notification No. 50/2016-Customs, dated the 22nd September, 2016, published vide number G.S.R. 901 (E), dated the 22nd September, 2016.