Customs tariff revisions across multiple chapters standardise duty rates and introduce item-specific mixed-rate entries for selected goods. The Third Schedule to the Finance Act, 2006 amends the First Schedule to the Customs Tariff Act by substituting revised customs duty rates across numerous tariff headings and items. The amendments mainly standardise column (4) entries to 12.5% for goods in Chapters 25 to 98, subject to specified exceptions. Some tariff items are assigned mixed rates of 12.5% or a fixed amount per unit, kilogram, square metre, or piece, whichever is higher, while a limited number of items retain distinct rates such as 60%, 10% and 5%.
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Provisions expressly mentioned in the judgment/order text.
Customs tariff revisions across multiple chapters standardise duty rates and introduce item-specific mixed-rate entries for selected goods.
The Third Schedule to the Finance Act, 2006 amends the First Schedule to the Customs Tariff Act by substituting revised customs duty rates across numerous tariff headings and items. The amendments mainly standardise column (4) entries to 12.5% for goods in Chapters 25 to 98, subject to specified exceptions. Some tariff items are assigned mixed rates of 12.5% or a fixed amount per unit, kilogram, square metre, or piece, whichever is higher, while a limited number of items retain distinct rates such as 60%, 10% and 5%.
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