Govt slashes tariff value for edible oil import, may lead to lower domestic prices
- The Central Board of Indirect Taxes and Customs (CBIC), through a notification, has cut the tariff import value of crude palm oil by $86 per tonne, and of RBD and crude palmolein by $112 per tonne each.
The government has reduced the tariff value for import of edible oil, including palm oil, by up to USD 112 per tonne, a move which experts said can lead to lower domestic prices.
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