Amendments to Customs Tariff Act: New Duty Rates for Groundnuts and Groundnut Kernels in Finance Act 2023
In the Fifth Schedule of the Finance Act, 2023, amendments are made to the Second Schedule of the Customs Tariff Act. The amendments involve replacing serial numbers 8 and 9 with new entries. Serial number 8 now pertains to groundnuts in shell, with a duty rate of Rs. 1,125 per tonne, while serial number 9 pertains to groundnut kernels, with a duty rate of Rs. 1,500 per tonne.
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