The government has reduced the VAT on edible oil imports from 15.0 per cent to 5.0 per cent as part of market intervention to tame soaring prices of the essential item.
The Internal Resources Division under the Finance Ministry issued a circular in this regard on Wednesday, reports BSS.
The decision will be applicable till June 30 this year on the imports of refined soybean oil, non-refined soybean oil, refined palm oil and non-refined palm oil.