Government to up IGST on imported crude palm oil

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The food ministry is firming up a proposal to increase integrated GST (IGST) on imported refined palm oil to 12 percent to offset the impending cut in import duty on the commodity from January next year, according to an official.

A cut in duty on palm oil is in line with India’s commitment to the Association of Southeast Asian Nations (ASEAN). At present, there is 5 percent IGST on imported crude palm oil.

Read More at: https://economictimes.indiatimes.com/markets/commodities/news/government-to-up-igst-on-imported-crude-palm-oil/articleshow/71608328.cms