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TMI BlogImport clearance time for edible oil comes down significantly to approx. 3-4 days ; there is no clogging of consignments at the portsX X X X Extracts X X X X X X X X Extracts X X X X ..... Import clearance time for edible oil comes down significantly to approx. 3-4 days ; there is no clogging of consignments at the ports - News and Press Release Dated:- 14-7-2021 - News - The Indian Customs is continuously monitoring the import clearances of edible oils in co-ordination with Food Safety and Standards Authority of India (FSSAI). It is seen that the import clearance time for edible ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oil has come down significantly to approx. 3-4 days at present which is the usual time taken for sampling, duty payment and logistics. It is being ensured that there is no clogging at the ports. To facilitate the trade and expedite the clearances, nodal officers have been nominated in all the Customs Zones and a Standard Operating Procedure has also been put in place for smooth clearance. Custom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s is also engaging with the Industry Associations regularly. The following data reveals significant increase in imports of crude palm oil (most significant edible oil imports) in most recent periods: - In MT Description 30.6 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .20 to 12.7.20 30.6.21 to 12.7.21 Crude Palm Oil 2,90,694 4,04,341 In MT Description 01.4.20 to 12.7.20 01.4.21 to 12.7.21 Crude Palm Oil 19,03,035 20,91,332 The import/export polic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y relating to edible oils, its volumes of clearances and pendency situation at ports etc are reviewed on weekly basis by Inter-ministerial Committee on prices of Agricultural Commodities. These aspects are also reviewed regularly by Committee of Secretaries and Group of Ministers. Department of Consumer Affairs and Department of Food continuously monitor the retail selling prices of edible oil ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for assessing the need for intervention Tariff and other policy interventions are normally made on the recommendations of these Committees/Group. To provide relief to the consumers, certain measures have been taken recently in respect of edible oil. These include reduction of customs duty on edible crude palm oil from 35.75% to 30.25% and on refined palm oil from 49.5% to 41.25%. Further, im ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... port restriction of refined palm oil has also been lifted till 31 st December. - News - Press release - PIB Tax Management India - taxmanagementindia - taxmanagement - taxmanagementindia.com - TMI - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
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