Tariff amendment power permits immediate adjustment or discontinuance of preferential rates by notification, with parliamentary laying.

The Central Government may, by notification in the Official Gazette, discontinue, increase (not exceeding the standard rate) or decrease a preferential tariff rate for any article in the First Schedule where necessary in the interests of trade including promotion of exports; every such notification must be laid before each House of Parliament. Separately, the First Schedule (Item No. 22(4), sub-item (a)) is amended to substitute the entry in the fourth column with a new tariff description.

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