Tariff amendment: retention of tobacco entries and substitution of crude petroleum tariff entry altering duty treatment. Amendment to the Seventh Schedule of the Finance Act, 2001 preserves specified tariff entries for tobacco and petroleum oils while omitting all other headings, sub-headings, tariff items and related entries; it also substitutes the existing crude petroleum tariff item with a new tariff line designated as Petroleum Crude, specifying its unit of measure and duty rate.
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Tariff amendment: retention of tobacco entries and substitution of crude petroleum tariff entry altering duty treatment.
Amendment to the Seventh Schedule of the Finance Act, 2001 preserves specified tariff entries for tobacco and petroleum oils while omitting all other headings, sub-headings, tariff items and related entries; it also substitutes the existing crude petroleum tariff item with a new tariff line designated as Petroleum Crude, specifying its unit of measure and duty rate.
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