Tariff classification update: Fourth Schedule Chapter amended to substitute BIS standards references and revise fuels' duty structure. Amendment to Fourth Schedule Chapter 27 substitutes supplementary notes to require citation of the latest Bureau of Indian Standards versions and replaces multiple sub headings and tariff items to reclassify naphthas, solvents, motor and aviation gasoline, kerosene, gas oils, diesel grades, fuel and marine oils, base and lubricating oils, and biodiesel-containing petroleum preparations, with specified product descriptions tied to BIS standards and duty indicators for certain fuels; the notification comes into force on publication in the Official Gazette.
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Tariff classification update: Fourth Schedule Chapter amended to substitute BIS standards references and revise fuels' duty structure.
Amendment to Fourth Schedule Chapter 27 substitutes supplementary notes to require citation of the latest Bureau of Indian Standards versions and replaces multiple sub headings and tariff items to reclassify naphthas, solvents, motor and aviation gasoline, kerosene, gas oils, diesel grades, fuel and marine oils, base and lubricating oils, and biodiesel-containing petroleum preparations, with specified product descriptions tied to BIS standards and duty indicators for certain fuels; the notification comes into force on publication in the Official Gazette.
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