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Custom Duty on Olive Oil (15091000/15099010/15099090)

Rajeev Nair (Finance Professional) (510 Points)

30 April 2011

Hello Friends,

I am trying to find out the applicable Import/Custom Duty on OLIVE OIL

The RITC :

1. 15091000 : Virgin Grade

2. 15091010 / 15099090 : Other Grade

My search says that applicable Import Duty is 45% for Virgin and 40% for Other - is it correct

Thanx

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8 Replies

RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 30 April 2011

please i tell u after checking the custom tariff.

regards,

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RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 30 April 2011

1. 15091000 : Virgin Grade

AS PER CUSTOM TARIFF 2010-11. DUTY BASIC 45 PRE35%

2. 15091010

AS PER CUSTOM TARIFF 2010-11. DUTY BASIC 40, PRE30,

3. 15099090 : Other Grade

40, 7.5%,30,& CVD 4%

Rajeev Nair (Finance Professional) (510 Points)
Replied 30 April 2011

Hello Ramesh,

Thanks for replying- Have few queries.

1. What is PRE 35% / 30%

2. Do you have any Notifications/Specifications regarding applicability of Import Duties @ 40% / 30% / 7.5%

3. Pl.check the following link of "BUSINESS STANDARD" - which says "No Import Duty on Olive Oil"

https://www.business-standard.com/india/news/no-import-dutyvirgin-olive-oil-says-government/348641/

Thanx & Rgds-

Rajeev

RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 30 April 2011

ACTUALLY, THIS ARTICLE IS NOT UPDATED .

CUSTOM TRAIFF IS UPDATED.

Rajeev Nair (Finance Professional) (510 Points)
Replied 02 May 2011

All right RameshJi I can agree to your comments

Also requested to comment on

1. What is PRE 35% / 30%

2. Do you have any Notifications/Specifications regarding applicability of Import Duties @ 40% / 30% / 7.5%

especially 7.5% - It would be great to understand the "DESCRIPTIONS" -

Thanx

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Sanjay s sakalley (Director) (42 Points)
Replied 07 June 2011

Hi!

Is the information above valid now or there has been a change?

Thanks,

Sanjay S Sakalley

RAMESH KUMAR VERMA ( CS PURSUING ) (43853 Points)
Replied 08 June 2011

WHAT IS YOUR QUERY SIR, PLEASE TELL ME SO THAT I COULD RESOLVED .

Sanjay s sakalley (Director) (42 Points)
Replied 08 June 2011

Thanks Ramesh,

I understand the government has removed the customs duty on import of olive oil but there is a flat 7.5% duty still there. i want to have a clear idea if this is correct information. Also I would like to know as to what is the formality to import under this structure - are all origins allowed, is there any membership or certification required from any trade or statutory body?

Appreciate your early response.

Sanjay S Sakalley