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<h1>Finance Bill 2025: Clause 98 proposes tariff revisions and harmonization in Customs Tariff Act, effective Feb 2 and May 1.</h1> Clause 98 of the Finance Bill, 2025, proposes amendments to the First Schedule of the Customs Tariff Act, 1975. These amendments involve revising tariff rates for specific items as detailed in the Second Schedule, effective from February 2, 2025. Additionally, the amendments aim to harmonize certain entries with the Harmonised System of Nomenclature, creating new tariff lines and revising rates as specified in the Third Schedule, effective from May 1, 2025. The provisions of sub-clause (a) are deemed urgent and are to take immediate effect under the Provisional Collection of Taxes Act, 2023.