This reduced 5% VAT will be applicable till 30 June 2022.
In order to restrain the soaring price.
The government has reduced VAT on cooking oil to 5% from the existing 15%.
According to a circular by the Internal Resource.
VAT has been reduced on the imports of both refined and unrefined soybean and palm oil.
Department of the Ministry of Finance issued on Wednesday.
This reduced 5% VAT will be applicable till 30 June 2022 the circular reads.
High Court has told government to take legal action against unscrupulous businessmen.
Who hoard daily essentials to rake in extra profit.
A mobile court has fined two traders in Shailkupa upazila of Jhenaidah for illegally store up soybean oil.
The mobile court, headed by Shailkupa (AC land) Partha Pratim Shil.
Found around 61,000 litres of soybean oil in local businessman Shankar Kumar’s warehouse.
And another 4,800 litres in Raju Kundu’s warehouse on Tuesday.
Shankar was fined Tk20,000 and Raju Tk15,000.
The authorities would later decide what would be done with the oil found.
During the raid, said the assistant commissioner.
Mobile courts have been conducting raids throughout the country.
And fining traders illegally hoarding soybean oil.
The High Court on Tuesday ordered the authorities concerned.
Take legal action against unscrupulous businessmen.