India Hikes Import Tax on Edible Oils

India has increased the basic import tax on crude and refined edible oils, as stated in a government notification. The new tax rates will be effective starting from September 14.

India on Friday announced an increase in the basic import tax on both crude and refined edible oils, according to a government notification viewed by Reuters.

The revised tax rates are set to take effect starting from September 14, marking a significant policy shift.

This move is expected to impact the prices and supply of edible oils in the domestic market.

(With inputs from agencies.)