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<h1>Understanding Goods Classification Under Customs Tariff Act, 1975: Key for Accurate Duty Assessment</h1> The classification of goods for import and export is essential for assessing customs duties, which may sometimes be nil. This process involves categorizing goods under specific headings in the Customs Tariff Act, 1975. The Act includes two Schedules: the First Schedule, based on the Harmonized System developed by the World Customs Organization, is used globally by over 200 countries to ensure uniform classification. The Second Schedule details goods subject to export duty. This classification system, which also specifies customs duty rates, is known as the Indian Customs Tariff or Tariff Schedule.