Demand for Castor Oil Exemption from CTT

Solvent Extractors Association of India (SEA) had demanded that castor oil along with other oil seeds included in the list of commodities exempted from the commodities transaction tax. However, the government has notified that commodities transaction tax (CTT) of 0.01% to be levied on all derivative contracts of non-agricultural commodities w.e.f 1st July, 2013. 23 specified agri-commodities have been exempted from CTT including cotton seed oil cake, copra, rape/mustard seed, soyabean and soya meal.