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of <h1>Finance Act 2008 Third Schedule updates customs tariffs: Rs. 3000/tonne for goods under heading No. 12, 20% on iron/steel.</h1> The Third Schedule of the Finance Act, 2008, amends the Customs Tariff Act by revising the tariff for certain goods. Specifically, the entry for heading No. 12 is updated to 'Rs. 3000 per tonne.' Additionally, new entries are added for various iron and steel products, each assigned a 20% duty rate. These products include pig iron, ferrous waste, and different forms of iron and non-alloy steel, such as ingots, semi-finished products, and flat rolled products. The schedule also specifies a tariff of Rs. 12000 per tonne for Basmati rice.
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