{"id":9109,"date":"2024-01-16T06:59:20","date_gmt":"2024-01-16T06:59:20","guid":{"rendered":"https:\/\/jammubulletin.com\/site\/?p=9109"},"modified":"2024-01-16T06:59:20","modified_gmt":"2024-01-16T06:59:20","slug":"govt-levies-50-export-duty-on-molasses-extends-lower-import-duties-on-edible-oil-till-mar-2025","status":"publish","type":"post","link":"https:\/\/jammubulletin.com\/site\/govt-levies-50-export-duty-on-molasses-extends-lower-import-duties-on-edible-oil-till-mar-2025\/","title":{"rendered":"Govt Levies 50% Export Duty On Molasses; Extends Lower Import Duties On Edible Oil Till Mar 2025"},"content":{"rendered":"

NEW DELHI, Jan 16: Starting\u00a0<\/span><\/span>on\u00a0<\/span><\/span>January\u00a0<\/span>18,\u00a0<\/span><\/span>the\u00a0<\/span>government<\/a>\u00a0<\/span><\/span>would\u00a0<\/span>levy\u00a0<\/span><\/span>a\u00a0<\/span>50%\u00a0<\/span>charge\u00a0<\/span><\/span>on\u00a0<\/span><\/span>the\u00a0<\/span>export\u00a0<\/span><\/span>of\u00a0<\/span><\/span>molasses,\u00a0<\/span><\/span>a\u00a0<\/span>byproduct\u00a0<\/span><\/span>of\u00a0<\/span><\/span>sugarcane\u00a0<\/span><\/span>that\u00a0<\/span><\/span>is\u00a0<\/span>used\u00a0<\/span><\/span>as\u00a0<\/span><\/span>a\u00a0<\/span>raw\u00a0<\/span>ingredient\u00a0<\/span><\/span>to\u00a0<\/span>produce\u00a0<\/span><\/span>alcohol.<\/span><\/span><\/span> <\/span><\/span><\/span>A\u00a0<\/span>statement\u00a0<\/span><\/span>from\u00a0<\/span><\/span>the\u00a0<\/span>Finance\u00a0<\/span><\/a>Ministry<\/a>\u00a0<\/span><\/span>stated\u00a0<\/span>that\u00a0<\/span><\/span>molasses\u00a0<\/span><\/span>that\u00a0<\/span>comes\u00a0<\/span><\/span>from\u00a0<\/span><\/span>the\u00a0<\/span>extraction\u00a0<\/span><\/span>or\u00a0<\/span><\/span>refinement\u00a0<\/span><\/span>of\u00a0<\/span><\/span>sugar\u00a0<\/span><\/span>will\u00a0<\/span>be\u00a0<\/span><\/span>subject\u00a0<\/span><\/span>to\u00a0<\/span>an\u00a0<\/span><\/span>export\u00a0<\/span><\/span>tariff\u00a0<\/span><\/span>of\u00a0<\/span><\/span>50%.<\/span><\/span><\/span> <\/span><\/span><\/span>The\u00a0<\/span>Finance\u00a0<\/span>Ministry\u00a0<\/span><\/span>also\u00a0<\/span><\/span>announced\u00a0<\/span><\/span>that\u00a0<\/span><\/span>the\u00a0<\/span>current\u00a0<\/span><\/span>concessional\u00a0<\/span><\/span>duty\u00a0<\/span>rates\u00a0<\/span><\/span>on\u00a0<\/span><\/span>imports\u00a0<\/span><\/span>of\u00a0<\/span><\/span>refined\u00a0<\/span><\/span>and\u00a0<\/span><\/span>crude\u00a0<\/span><\/span>edible\u00a0<\/span>oils,\u00a0<\/span><\/span>including\u00a0<\/span><\/span>palm,\u00a0<\/span><\/span>soy,\u00a0<\/span><\/span>and\u00a0<\/span><\/span>sunflower,\u00a0<\/span><\/span>will\u00a0<\/span>be\u00a0<\/span><\/span>extended\u00a0<\/span><\/span>by\u00a0<\/span><\/span>one\u00a0<\/span>year,\u00a0<\/span><\/span>ending\u00a0<\/span><\/span>on\u00a0<\/span><\/span>March\u00a0<\/span>31,\u00a0<\/span><\/span>2025.In\u00a0<\/span>June\u00a0<\/span>of\u00a0<\/span><\/span>last\u00a0<\/span>year,\u00a0<\/span><\/span>the\u00a0<\/span>basic\u00a0<\/span><\/span>import\u00a0<\/span>duty\u00a0<\/span><\/span>on\u00a0<\/span><\/span>refined\u00a0<\/span><\/span>soybean\u00a0<\/span>oil\u00a0<\/span><\/span>and\u00a0<\/span><\/span>sunflower\u00a0<\/span>oil\u00a0<\/span><\/span>was\u00a0<\/span>lowered\u00a0<\/span><\/span>from\u00a0<\/span>17.5%\u00a0<\/span>to\u00a0<\/span>12.5%.<\/span> <\/span><\/span>India\u00a0<\/span>imports\u00a0<\/span>a\u00a0minor\u00a0<\/span><\/span>amount\u00a0<\/span>of\u00a0<\/span>crude\u00a0<\/span>soft\u00a0<\/span>oil,\u00a0<\/span>especially\u00a0<\/span><\/span>soyabean,\u00a0<\/span>from\u00a0<\/span>Argentina\u00a0<\/span><\/span>in\u00a0<\/span><\/span>addition\u00a0<\/span>to\u00a0<\/span><\/span>palm\u00a0<\/span>oil,\u00a0<\/span><\/span>which\u00a0<\/span>is\u00a0<\/span><\/span>primarily\u00a0<\/span>from\u00a0<\/span><\/span>Indonesia\u00a0<\/span>and\u00a0<\/span>Malaysia.<\/span> <\/span><\/span>Oil\u00a0<\/span>made\u00a0<\/span>from\u00a0<\/span><\/span>sunflowers\u00a0<\/span><\/span>is\u00a0<\/span>imported\u00a0<\/span><\/span>from\u00a0<\/span><\/span>Russia<\/a>\u00a0and\u00a0Ukraine.<\/span><\/span><\/span><\/span> <\/span><\/span><\/span><\/p>\n

\"Govt
Govt Levies 50% Export Duty On Molasses; Extends Lower Import Duties On Edible Oil Till Mar 2025<\/figcaption><\/figure>\n

 <\/p>\n

 <\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

NEW DELHI, Jan 16: Starting\u00a0on\u00a0January\u00a018,\u00a0the\u00a0government\u00a0would\u00a0levy\u00a0a\u00a050%\u00a0charge\u00a0on\u00a0the\u00a0export\u00a0of\u00a0molasses,\u00a0a\u00a0byproduct\u00a0of\u00a0sugarcane\u00a0that\u00a0is\u00a0used\u00a0as\u00a0a\u00a0raw\u00a0ingredient\u00a0to\u00a0produce\u00a0alcohol. A\u00a0statement\u00a0from\u00a0the\u00a0Finance\u00a0Ministry\u00a0stated\u00a0that\u00a0molasses\u00a0that\u00a0comes\u00a0from\u00a0the\u00a0extraction\u00a0or\u00a0refinement\u00a0of\u00a0sugar\u00a0will\u00a0be\u00a0subject\u00a0to\u00a0an\u00a0export\u00a0tariff\u00a0of\u00a050%. The\u00a0Finance\u00a0Ministry\u00a0also\u00a0announced\u00a0that\u00a0the\u00a0current\u00a0concessional\u00a0duty\u00a0rates\u00a0on\u00a0imports\u00a0of\u00a0refined\u00a0and\u00a0crude\u00a0edible\u00a0oils,\u00a0including\u00a0palm,\u00a0soy,\u00a0and\u00a0sunflower,\u00a0will\u00a0be\u00a0extended\u00a0by\u00a0one\u00a0year,\u00a0ending\u00a0on\u00a0March\u00a031,\u00a02025.In\u00a0June\u00a0of\u00a0last\u00a0year,\u00a0the\u00a0basic\u00a0import\u00a0duty\u00a0on\u00a0refined\u00a0soybean\u00a0oil\u00a0and\u00a0sunflower\u00a0oil\u00a0was\u00a0lowered\u00a0from\u00a017.5%\u00a0to\u00a012.5%. India\u00a0imports\u00a0a\u00a0minor\u00a0amount\u00a0of\u00a0crude\u00a0soft\u00a0oil,\u00a0especially\u00a0soyabean,\u00a0from\u00a0Argentina\u00a0in\u00a0addition\u00a0to\u00a0palm\u00a0oil,\u00a0which\u00a0is\u00a0primarily\u00a0from\u00a0Indonesia\u00a0and\u00a0Malaysia. Oil\u00a0made\u00a0from\u00a0sunflowers\u00a0is\u00a0imported\u00a0from\u00a0Russia\u00a0and\u00a0Ukraine.      <\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[6,67,22,89,54],"tags":[],"class_list":["post-9109","post","type-post","status-publish","format-standard","hentry","category-business","category-header","category-international","category-national","category-political"],"gutentor_comment":0,"yoast_head":"\nGovt Levies 50% Export Duty On Molasses; Extends Lower Import<\/title>\n<meta name=\"description\" content=\"Starting\u00a0on\u00a0January\u00a018,\u00a0the\u00a0government\u00a0would\u00a0levy\u00a0a\u00a050%\u00a0charge\u00a0on\u00a0the\u00a0export\u00a0of\u00a0molasses,\u00a0a\u00a0byproduct\u00a0of\u00a0sugarcane\u00a0\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/jammubulletin.com\/site\/govt-levies-50-export-duty-on-molasses-extends-lower-import-duties-on-edible-oil-till-mar-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Levies 50% Export Duty On Molasses; 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