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of <h1>Amendments to Customs Tariff Act: Revised Terminology, Updated Duty Rates and Classifications Across Various Goods in Finance Act, 2001.</h1> The Finance Act, 2001, Third Schedule, outlines amendments to the Customs Tariff Act, impacting various chapters and headings. It revises terminology, such as replacing 'heading No.' with 'heading' and 'sub-heading No.' with 'sub-heading.' The schedule modifies tariff descriptions and rates across multiple chapters, including adjustments to sub-headings, insertion of new entries, and omission of specific entries. It covers a wide range of goods, from live animals to chemical products, textiles, and machinery, with changes in duty rates and classifications. The amendments aim to update and standardize the tariff nomenclature and duty structures.
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