The DGFT vide Public Notice No. 50/2015-20 dated January 11, 2023 regarding the discontinuation of Tariff Rate Quota (“TRQ”) for the Import of Crude Soya bean Oil w.e.f. April 01, 2023.
In exercise of the powers conferred under Para 1.03 and 2.04 of the Foreign Trade Policy 2015-2020, the Director General of Foreign Trade hereby revises the provisions relating to Tariff Rate Quota (TRQ) for import of Crude Soya bean Oil by amending Para 2.60 and 2.61 of the Handbook of Procedures as notified earlier vide Public Notice 10/2015-20 dated May 24, 2022 and Public Notice 15/2015-20 dated June 14, 2022, as follows:
|
Para |
Existing provision |
Revised Provision |
|||||||||||||||||||||
|
2.60 (b) |
Tariff Rate Quota (TRQ) Imports shall be allocated during financial years 2022-23 and 2023-24, up to quantities per year as indicated below. The duty exemption under the said TRQs may be availed as per Ministry of Finance (Department of Revenue) Notification No. 30/2022-Customs dated May 24, 2022 .
|
Tariff Rate Quota (TRQ) Imports for items as indicated as follows, shall be allocated during financial year 2022–23 only
Tariff Rate Quota (TRQ) Imports for items as indicated as follows, shall be allocated during financial years 2022-23 and 2023-24,
The duty exemption under the said TRQs may be availed as per Ministry of Finance (Department of Revenue) Notification No. 30/2022-Customs dated May 24, 2022 |
|||||||||||||||||||||
|
2.61(d)(ix) |
The TRQs issued for financial year 2022-23 shall be valid for clearance of import for a period of one year or till 30th June 2023, whichever is earlier. TRQs issued for FY 2023-24 shall be valid for clearance of imports till March 31, 2024 |
The validity of TRQs issued during FY 2022-23 for import of Crude Soya-bean oil, w/n degummed under ITC(HS) 15071000 is revised to March 31, 2023. Bill of Lading dated on or before March 31, 2023 shall be allowed for imports under Crude Soya-bean oil TRQs till June 30, 2023. TRQs issued during FY 2022-23 for import of Crude Sunflower seed Oil under ITC(HS) 15121110 shall be valid for clearance of import for a period of one year or till June 30, 2023, whichever is earlier. TRQs issued for FY 2023-24 shall be valid for clearance of imports till March 31, 2024. |
Effect of Public Notice: Last date of Import of Crude Soya Bean Oil under TRQ has been revised to March 31, 2023. Further, no allocation of TRQs for import of Crude Soya bean Oil shall be made for the Financial Year 2023-24.
The Public Notice can be accessed at: https://content.dgft.gov.in/Website/dgftprod/25d46a8c-a5c6-45f4-8443-2ba1da8cf7d9/PN%2050%20dt%2011-01-23%20Eng.pdf