Tax on sunflower oil import?
India has decided to cancel the duty-free import quota of 2 million tonnes of sunflower oil from the next financial year, the government said. The government has said that it is trying to support the local oilseed farmers through this.
In May 2022, the central government allowed duty-free import of 2 million tonnes of sunflower oil in 2022-23. While it originally planned to repeat it in 2023-24.
India used to get sunflower oil from Russia and Ukraine. India also imported soya oil from Argentina, Brazil and USA. India also imported palm oil from Indonesia, Malaysia and Thailand.
In this situation, it is noteworthy that India decided last January to cancel the import of oil for the next financial year.
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