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of <h1>India Revises Customs Duty Rates: Changes Affect Shrimp, Cocoa Beans, Algal Oil, Effective May 1, 2022.</h1> The Government of India has issued Notification No. 02/2022-Customs to amend Notification No. 50/2017-Customs, prescribing effective rates of Basic Customs Duty (BCD). The amendments involve omitting and substituting various serial numbers and entries in the notification's table, effective from May 1, 2022. Changes include adjustments to duty rates for goods like shrimp, krill, mussels, bovine semen, cocoa beans, algal oil, and more. New entries have been added for items like algal oil, cocoa beans, and fuel oil. The notification outlines conditions for exemptions and specifies validity periods for certain exemptions, with the changes effective from February 2, 2022.
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