<h1>Customs Duties Revised: 5% Duty on Iron and Steel, 20% on Crude Soybean Oil, Effective Nov 18, 2008, Notification 122/2008.</h1> The government has revised customs duties in response to declining international commodity prices to protect domestic producers. The full exemption from customs duty on certain iron and steel items, including pig iron and semi-finished products, has been withdrawn, imposing a 5% ad valorem duty. Similarly, the exemption on crude soyabean oil has been removed, resulting in a 20% ad valorem duty, while the duty on refined soyabean oil remains unchanged. These changes are effective from November 18, 2008, as per Notification No.122/2008-Customs.