Customs tariff amendment alters tariff items, revises customs duty rates and amends unit specifications under the First Schedule. Clause 87 of the Finance (No. 2) Bill, 2014 proposes to amend the First Schedule to the Customs Tariff Act by omitting a tariff item, revising customs ... Summary
Customs tariff amendment alters tariff items, revises customs duty rates and amends unit specifications under the First Schedule.
Clause 87 of the Finance (No. 2) Bill, 2014 proposes to amend the First Schedule to the Customs Tariff Act by omitting a tariff item, revising customs duty rates on specified tariff items, and amending the units specified in column (3) for certain goods, thereby modifying tariff classification and the basis for duty calculation.
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