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of <h1>Finance Bill 2024: Customs, Excise, GST Amendments; Duty Rate Changes on Goods, Exemptions for Cancer Drugs, Textiles, Leather.</h1> The Finance (No.2) Bill, 2024 proposes various amendments to customs, central excise, and GST laws, along with changes in duty rates. Key changes include reductions in basic customs duty (BCD) on agricultural goods, critical minerals, aquafarming inputs, and electronics, while increasing BCD on ammonium nitrate and certain chemicals. Exemptions are proposed for cancer drugs, and the textile and leather sectors see reduced BCD on specific materials. Legislative amendments in customs and GST Acts aim to streamline processes and provide clarity. The Bill also reviews exemptions, extending some and lapsing others, with changes effective upon enactment or specified dates.
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