The Hindu Business Line : No change in tariff rate quota for oils, maize

THE Government on Friday came out with an unchanged tariff rate quota (TRQ) for importing crude sunflower seed or safflower oil, refined rape, colze or mustard oil, maize and milk powder.

In a public notice, it has given time till October 17 for filing applications to make imports under TRQ. The TRQ regime is a trading mechanism that provides for the application of customs duty at a certain rate to imports of a particular good up to a specified quantity (the `in-quota' quantity) and at a different rate to imports of the same good beyond the specified quantity.

For refined rapeseed, mustard and colza oil, the customs duty on imports of an aggregate quantity up to 1.5 lakh tonnes in a financial year has been set at 45 per cent, with imports beyond this level chargeable to 85 per cent. For crude sunflower seed or safflower oil, the duties are 50 per cent for up to imports of 1.5 lakh tonnes in a financial year and 75 per cent for imports beyond this level. In the case of maize and milk powder, the in-quota duties are 15 per cent each for imported quantities of 4.5 lakh tonnes and 10,000 tonnes respectively, with imports beyond these attracting 50 per cent and 60 per cent duty respectively.

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