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of <h1>Central Govt Exempts Customs Duties for Goods Under Chapters 4 & 98 of Customs Tariff Act 1975</h1> The notification, issued by the Central Government under the Customs Act, 1962, outlines exemptions on customs duties for goods under Chapters 4 and 98 of the Customs Tariff Act, 1975. It specifies reduced rates of customs duty for various goods, detailing standard and preferential rates. For instance, goods under Chapter 4, excluding specific sub-headings, have a standard rate of 30% ad valorem. Other specified goods have varying rates, such as 5% for Chapter 07.13 and nil for Chapter 0801.31. The notification aims to adjust customs duties in the public interest for a wide range of imported goods.
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