Customs tariff amendments update tariff classifications and duty treatment across multiple chapters, altering import duty application and entries. The Finance Act, 2016 amends the Customs Tariff Act First Schedule by substituting figures and column entries, omitting specified sub-headings and tariff ... Summary
Customs tariff amendments update tariff classifications and duty treatment across multiple chapters, altering import duty application and entries.
The Finance Act, 2016 amends the Customs Tariff Act First Schedule by substituting figures and column entries, omitting specified sub-headings and tariff items, and inserting revised tariff item descriptions and duty expressions for identified goods (including specified fabrics and laboratory-created diamonds), thereby reclassifying commodities and altering their applicable import duty treatment across multiple chapters and headings.
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