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of <h1>Central Government Reduces Customs Duty to 55% for Certain Goods Under Chapter 20 via Notification No. 16/94-Cus.</h1> The Central Government, under the authority of section 25(1) of the Customs Act, 1962, issued Notification No. 16/94-Cus on March 1, 1994, to exempt certain goods within Chapter 20 of the Customs Tariff Act, 1975, from a portion of customs duty. This exemption applies to goods specified in the notification's table, reducing the duty to 55% ad valorem. The notification aims to serve the public interest by adjusting the effective rates for these specified goods when imported into India.
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