Finance Bill 2011 Section 54 Exempts Fresh Garlic from 70% Customs Duty, Now 30% for Licensed Imports
The Third Schedule of the Finance Bill, 2011, as referenced in section 54, outlines an exemption for fresh garlic classified under tariff item 0703 20 00 of the Customs Tariff Act, 1975. This exemption applies to garlic imported by the National Consumer Co-operative Federation and the Madhya Pradesh State Co-operative Marketing Federation under a Central Government-issued import license. The exemption reduces customs duty to thirty percent ad valorem for imports cleared after January 15, 2003.
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