Reduce BCD on Refined palm oil and its fractions from 17.5% to 12.5% till 31.03.2022

Last updated: 22 December 2021

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The Ministry of Finance has announced a reduction in the Basic Customs Duty (BCD) for refined palm oil and its fractions. The BCD will be lowered from 17.5% to 12.5%. This change is effective from December 21, 2021, and will remain in place until March 31, 2022. This amendment aims to benefit the public interest.

MINISTRY OF FINANCE
(Department of Revenue)
New Delhi, the 20th December, 2021

Notification No. 53/2021- Customs

G.S.R. 869(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, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 48/2021-Customs, dated the 13th October, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, sub-section (i), vide number G.S.R. 733(E), dated the 13th October, 2021, namely:-

In the said notification, in the Table, against S. No. 4, in column (4), for the entry, the entry “12.5%” shall be substituted.

2. This notification shall come into effect on the 21st December, 2021.

[F. No. 354/77/2021-TRU]
RAJEEV RANJAN, Under Secy

FAQ :

The Basic Customs Duty (BCD) on refined palm oil and its fractions has been reduced to 12.5%.

The previous BCD rate for refined palm oil and its fractions was 17.5%.

This notification comes into effect on December 21, 2021.

The reduced BCD rate of 12.5% will be applicable until March 31, 2022.

This reduction applies to refined palm oil and its fractions.

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Notification No : 53/2021- Customs
Published in Custom
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2021/cs-tarr2021/cs53-2021.pdf

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