Govt exempts duty on import of crude soyabean oil, sunflower seed oil under tariff rate quota

New Delhi: The Central government has exempted customs duty and agricultural infrastructure and development cess levied on crude soyabean oil and crude sunflower seed oil, subject to the conditions of tariff rate quota authorisation (TRQ) till June 30. The duty exemption is applicable only for importers holding TRQ (Tariff Rate Quota) licence for 2022-23 fiscal.  Under TRQ, a certain volume of imports are allowed at relatively low tariffs. Once the volume limit is reached, a higher tariff applies to additional imports. TRQ is allotted to importers by the Directorate General of Foreign Trade (DGFT).

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