Seeks to amend the notification No. 50/2021-Customs dated 30.06.2017 and notification No. dated 11/2021 dated 01.02.2021 in order to reduce and rationalise the import duties on Palm, Sunflower and Soya-bean oils – Notification No. 42/2021-Customs
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), read with section 124 of the Finance Act, 2021 (13 of 2021), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby amends the following notifications of the Government of India in the Ministry of Finance (Department of
Revenue) specified in column (2) of the Table below, to the extent specified in the corresponding entries in column (3) of the said Table, namely:-
Table
| S. No. | Notification No. and Date | Amendments |
| (1) | (2) | (3) |
| 1. | 50/2017-Customs, dated the 30th June, 2017, published in the Gazette of India, Extraordinary, Part II, Section 3, Subsection (i), vide number G.S.R. 785(E)., dated the 30th June, 2017 | In the said notification, in the Table- (i) against S. No. 57, in column (4), for the entry, the entry “2.5%” shall be substituted; (ii) against S. No. 61, in column (4), for the entry, the entry “2.5%” shall be substituted; (iii) against S. No. 62, in column (4), for the entry, the entry “32.5%” shall be substituted; (iv) against S. No. 65, in column (4), for the entry, the entry “32.5%” shall be substituted; (v) against S. No. 70, in column (4), for the entry, the entry “2.5%” shall be substituted; (vi)against S. No. 71, in column (4), for the entry, the entry “32.5%” shall be substituted; |
| 2. | 11/2021-Customs, dated the 1st February, 2021, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 69(E)., dated the 1st February, 2021 | In the said notification, in the Table- (i) against S. No. 7, in column (3), for the entry, the entry “Crude Palm Oil” shall be substituted; (ii) against S. No. 7, in column (4), for the entry, the entry “20%” shall be substituted; |
- This notification shall come into effect on the 11th September, 2021.
Note: –
- The principal notification No.50/2017-Customs, dated the 30th day of 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 30thday of June, 2017 and last amended vide notification No. 38/2021-Customs, dated the 26th day of July, 2021 published in the Gazette of India,
Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 508(E)., dated the 26th day of July, 2021. - The principal notification No. 11/2021-Customs, dated the 1st day of February, 2021 was published in the Gazette of India, Extraordinary, Part II, Section3, Sub-section (i), vide number G.S.R. 69(E)., dated the 1st day of February, 2021 and last amended vide notification No. 38/2021-Customs, dated the 26th day of July, 2021 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 508 (E)., dated the 26th day of July, 2021.
