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Commodity News
Apr 30 2008 9:56AM
States asked to cut edible oils taxes

New Delhi - A leading trade body has urged State governments in the country to lower local taxes to further bring down edible oil prices in the country, its president said Tuesday. "If edible oils are exempted from local taxes by State government, price can further come down by Rs 3,000/tn-Rs 4,000/tn," Ashok Sethia, president of Solvent Extractors' Association (SEA) of India said in statement.

SEA is a leading body of edible oil traders, importers and crushers. Recently, the Central government scrapped import taxes on crude edible oils and also decided to import one million tons of oils for distribution to poor families at cheap rates.

  Source:   

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