The Ministry of Finance has issued a notification dated September 10, 2021 which rescinds the previous notification dated June 29, 2021, which had prescribed relaxation of customs tariff duty for oil products. It was amended by notification dated August 9, 2021 to provide further relaxation of customs tariff duty for Sunflower seed oil, Sunflower oil, edible grade and Crude oil.
Now, the notification dated September 10, 2021 rescinds the previous notification with effect from September 11, 2021 thereby rescinding the relaxation of custom duty on oil products.
*Tanvi Singh, Editorial Assistant has reported this brief.