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of <h1>Finance Bill 2023 revises customs duties: Chapter 29 at 2.5%, Chapter 40 at 25%, Chapter 71 at 25%.</h1> The Second Schedule of the Finance Bill, 2023, amends the Customs Tariff Act by revising duty rates for various goods. In Chapter 29, the duty for tariff items 2902 50 00 and 2903 21 00 is set at 2.5%. Chapter 40 revises the duty for heading 4005 to 25% or Rs. 30 per kg, whichever is lower. Chapter 71 changes duties for headings 7113 and 7114 to 25%, and heading 7117 to 25% or Rs. 600 per kg, whichever is higher. Chapter 84 sets a 15% duty for tariff item 8414 60 00, Chapter 87 sets a 35% duty for tariff item 8712 00 10, and Chapter 95 sets a 70% duty for heading 9503.
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