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of <h1>Finance Bill 2006: New 4% CV Duty on Imports, Reduced Customs Duties, and Updated Excise Duties on Various Goods.</h1> The Finance Bill, 2006, introduced significant changes to customs and excise duties. A 4% special CV duty now applies to all imports, excluding certain items like petroleum and fertilizers. The peak customs duty on non-agricultural goods was reduced from 15% to 12.5%. Various reductions in customs duties were made for metals, chemicals, textiles, and health-related products. Excise duty reductions were implemented on items like aerated waters and certain vehicles, while new duties were imposed on computers and packaged software. The document also outlines the withdrawal of certain exemptions and the imposition of excise duties on previously exempt goods.
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