date:Jan 18, 2013
and will provide an even field to the domestic refining industry.
Background
Tariff value is fixed under Section 14 (2) of the Customs Act, 1962, inter alia, on the above edible oils and notified on a fortnightly basis. Since July 31, 2006, tariff values of edible oils have remained unchanged, as a fiscal measure to contain inflation.
The freeze has led to significant variations between the notified tariff values and the computed landed prices based on international prices of the edible oi