Tariff schedule amendments increase excise duties and insert new dutiable entries, altering preferential and standard rates. The schedule amends the First Schedule to the Tariff Act by substituting specified duty rates and textual entries for numerous items, raising many per unit and ad valorem charges and adding combined formulas (unit rate or ad valorem, whichever is higher, plus an additional percentage). It inserts new tariff entries and substitutes others to cover refined petroleum derivatives, acids, gases, medicines, rubber, plywood, jute, asbestos cement, iron and steel products, copper alloys, refrigeration and air conditioning appliances, electric wires, gramophones, and plastics, generally prescribing that duties equal the excise leviable on like domestically produced articles, at the highest applicable rate, in addition to prior duties.
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Tariff schedule amendments increase excise duties and insert new dutiable entries, altering preferential and standard rates.
The schedule amends the First Schedule to the Tariff Act by substituting specified duty rates and textual entries for numerous items, raising many per unit and ad valorem charges and adding combined formulas (unit rate or ad valorem, whichever is higher, plus an additional percentage). It inserts new tariff entries and substitutes others to cover refined petroleum derivatives, acids, gases, medicines, rubber, plywood, jute, asbestos cement, iron and steel products, copper alloys, refrigeration and air conditioning appliances, electric wires, gramophones, and plastics, generally prescribing that duties equal the excise leviable on like domestically produced articles, at the highest applicable rate, in addition to prior duties.
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