LPG shipments to draw customs duty of 15% & farm cess of equal amount

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ET BureauLast Updated: Jul 02, 2023, 10:53 PM IST

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Basic customs duty will be nil for import of domestic LPG sold to household consumers by state-owned oil marketing companies. The customs duty rate will be 15% for other importers of domestic LPG. The new rates will be effective from July 1.

LPG shipments to draw customs duty of 15% & farm cess of equal amount

The Centre has raised the basic customs duty on domestic LPG to 15% from 5%. It has also imposed an Agriculture Infrastructure and Development Cess (AIDC) of 15% on the import of LPG cylinders.

However, the basic customs duty hike will not be applicable to imports of liquefied propane, liquefied butane and mixture of liquefied propane and liquefied butane by Indian Oil Corporation Ltd, Hindustan Petroleum Corporation Ltd and Bharat Petroleum Corporation Ltd for supply to household domestic consumers, a Central Board of Indirect Taxes and Customs notification said.

Basic customs duty will be nil for import of domestic LPG sold to household consumers by state-owned oil marketing companies. The customs duty rate will be 15% for other importers of domestic LPG.

The new rates will be effective from July 1.

Officials said the move will protect domestic consumers and at the same time reduce import bills.

India is short on production of cooking gas or LPG and is dependent on imports from nations such as Saudi Arabia.

Sunday, 02 Jul, 2023

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