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TMI BlogExtension of the existing concessional import duties on specified edible oils up to and inclusive of the 31st March 2025X X X X Extracts X X X X X X X X Extracts X X X X ..... Customs - Notifications - FAQ - Dated:- 16-1-2024 - Notification No. 02/2024 - Dated: 15-1-2024 - Seeks to amend notification Nos. 48/2021 and 49/2021 - Customs both dated 13.10.2021 in order to extend the existing concessional import duties on specified edible oils up to and inclusive of the 31st March 2025. In an evolving economic landscape, the Indian government's approach to cus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d availability of these essential oils. Key Changes in Customs Duty Notification No. 48/2021, issued on 13th October 2021 , focused on exempting specific edible oils from customs duty beyond a certain threshold. This included oils like crude soya-bean oil, edible grade soya-bean oil, crude palm oil, refined bleached deodorized (RBD) palm oil, RBD palmolein, RBD palm stearin, and sunflower ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . Impact on Domestic Market Lower customs duties can lead to a reduction in the cost of importing edible oils. This, in turn, can result in lower prices for consumers, aiding in managing household expenses amidst broader economic challenges. Additionally, these changes may encourage imports, ensuring a steady supply of these oils in the domestic market. Global Trade Considerations From ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hance India's global trade dynamics. As the world navigates economic uncertainties, such policy decisions play a pivotal role in ensuring economic resilience and sustainability. Full Text : Notification No. 02/2024 - Dated: 15-1-2024 - Seeks to amend notification Nos. 48/2021 and 49/2021 - Customs both dated 13.10.2021 in order to extend the existing concessional import dut ..... X X X X Extracts X X X X X X X X Extracts X X X X
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