Central Govt allows import of 20 Lakh MT each of Crude #Soyabean Oil and Crude #Sunflower Oil per year.

This is for a period of 2 years at #Nil rate of #customsduty and Agricultural Infrastructure and Development #Cess.

Govt reviews #windfall gains #tax

Govt cuts #cess on #crude, reduced to Rs13000/tonne from Rs 17750

Export duty on #ATF hiked to Rs2/lt from nil

Export duty on #diesel hiked to Rs7/lt from Rs5/lt

Export duty on #petrol still at nil

Notification comes into effect from Aug 19

#NewsFlash | All states requested to merge the cess with #GST rates, GoM will now discuss how higher compensation #cess rates can be merged with GST Rates.

Once merged it will help states revenues as will be shared equally with centre & state, sources to TimsyJaipuria