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of <h1>Section 45 of Finance Act, 1966, allows up to 25% customs duty on specified goods to manage imports efficiently.</h1> Section 45 of the Finance Act, 1966, empowers the Central Government to impose regulatory customs duties on specified goods to manage imports and promote economic efficiency. These duties are applicable to goods listed in the First Schedule of the Tariff Act or its amendments. The duty rate can be up to 25% of the rate specified in the First Schedule, adjusted by relevant notifications, or 10% of the goods' value as determined under the Customs Act, 1962, whichever is higher. The specific rates and effective dates are determined by government notification in the Official Gazette.
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