Customs tariff amendments widen product classifications and revise import duty rates across agricultural, chemical and metals categories. The Third Schedule to the Finance Bill, 2025 amends the First Schedule of the Customs Tariff Act by substituting and inserting numerous tariff items and Supplementary Notes, introducing product-specific definitions (including a GI recognised rice category and a defined meaning of makhana), aligning entries with national standards, and adjusting customs duty rates across multiple chapters. It creates finer-grained tariff lines for agricultural products, pesticides, chemicals, metals and manufactured goods, categorises substances by chemical content or preparation, and substitutes uniform duty percentages or 'Free' entries where specified.
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Customs tariff amendments widen product classifications and revise import duty rates across agricultural, chemical and metals categories.
The Third Schedule to the Finance Bill, 2025 amends the First Schedule of the Customs Tariff Act by substituting and inserting numerous tariff items and Supplementary Notes, introducing product-specific definitions (including a GI recognised rice category and a defined meaning of makhana), aligning entries with national standards, and adjusting customs duty rates across multiple chapters. It creates finer-grained tariff lines for agricultural products, pesticides, chemicals, metals and manufactured goods, categorises substances by chemical content or preparation, and substitutes uniform duty percentages or 'Free' entries where specified.
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