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of <h1>India Revises Customs Duty on Gearboxes to 6.88% Under India-Japan Economic Agreement, Effective January 2018.</h1> The Government of India has issued Notification No. 94/2017-Customs to amend Notification No. 69/2011-Customs, dated 29th July 2011. This amendment, effective from 1st January 2018, modifies the concessional rate of basic customs duty for tariff item 8708 40 00, which includes gearboxes and parts for specified motor vehicles. This change applies to imports under the India-Japan Comprehensive Economic Partnership Agreement. The duty rate for this tariff item is revised to '6.88' as per the amendment.
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