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of <h1>Finance Act 2016: Updates to Customs Tariff Act 1975, Revising Rates & Descriptions for Goods Like Fish, Chemicals, Vehicles</h1> The Fourth Schedule of the Finance Act, 2016, amends various tariff items in the Customs Tariff Act, 1975. Key changes include updates to descriptions and tariff rates for a wide range of goods, such as fish, plants, chemicals, textiles, vehicles, and machinery parts. Notable amendments include the inclusion of new tariff items for specific types of fish, changes to the classification of certain chemical compounds, and adjustments to the duties on machinery and vehicles. The schedule also introduces new sub-headings and clarifies existing descriptions to align with international standards and technological advancements.
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