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of <h1>Finance Bill 2021: Customs Tariff Act updates rates, sets 7.5% for item 2803 00 10, 15% for Chapters 39-91.</h1> The Second Schedule of the Finance Bill, 2021, amends the Customs Tariff Act by revising tariff rates for various items. Specifically, the tariff for item 2803 00 10 in Chapter 28 is set at 7.5%. For items in Chapters 39, 70, 71, 84, 85, 90, and 91, the tariff rate is uniformly adjusted to 15%. This adjustment affects a range of tariff items across different sub-headings, including those related to chemicals, plastics, glass, machinery, electrical equipment, and scientific instruments.
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