Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

Last updated: 27 November 2020

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This notification announces an amendment to the existing customs duty structure. Effective from 27th November 2020, the Basic Customs Duty (BCD) rate for Crude Palm Oil has been set at 27.5%. This change amends the previous notification No. 50/2017-Customs dated 30th June 2017.

GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(Department of Revenue)

Notification No. 43/2020-Customs

New Delhi, the 26th November, 2020

Seeks to further amend notification No. 50/2017-Customs dated 30th June, 2017 so as to prescribe BCD rate of 27.5% on Crude Palm Oil

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) and sub-section (12) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendment in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017, namely:-

In the said notification, in the Table, against S. No. 57, for the entry in column (4), the entry “27.5%” shall be substituted.

2. This notification shall come into force with effect from the 27th day of November, 2020.

[F. No. 356/06/2018-TRU]

(Gaurav Singh)
Deputy Secretary to the Government of India

Note: The principal notification No.50/2017-Customs, dated the 30th June, 2017 was published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 785(E), dated the 30th June, 2017 and last amended vide notification No. 42/2020-Customs, dated the 11th November, 2020, published vide number G.S.R.705(E), dated the 11th November, 2020.

FAQ :

The new Basic Customs Duty (BCD) rate for Crude Palm Oil is 27.5%.

This notification comes into force on the 27th of November, 2020.

This notification further amends notification No. 50/2017-Customs dated 30th June, 2017.

The entry for Crude Palm Oil (S. No. 57) in the table of notification No. 50/2017-Customs has been updated to reflect a BCD rate of 27.5%.

Notification No : Notification No. 43/2020-Customs
Source : https://www.cbic.gov.in/resources//htdocs-cbec/customs/cs-act/notifications/notfns-2020/cs-tarr2020/cs43-2020.pdf;jsessionid=56126303D21D67F1A9DC1DE6C0F83797

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