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of <h1>Amendment to Customs Tariff Act Section 3: New Integrated Tax and GST Cess on Imports Up to 40%</h1> The amendment to section 3 of the Customs Tariff Act, 1975, modifies the duty structure on imported goods. It introduces integrated tax and Goods and Services Tax (GST) compensation cess on imports, aligning with the Integrated Goods and Services Tax Act, 2017, and the GST (Compensation to States) Cess Act, 2017. The integrated tax rate can be up to 40% of the import value, while the compensation cess is also applicable. The import value is calculated by aggregating the determined value and any applicable customs duties, excluding the integrated tax and compensation cess. These duties are additional to existing taxes.
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