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of <h1>Government Imposes 15% Customs Duty on R&D Imports of Magnetic Tapes, CD-ROMs, and Floppy Disks; Conditions Apply</h1> The Central Government has issued Notification No. 68/93-Cus, dated February 28, 1993, imposing an effective customs duty of 15% on recorded magnetic tapes, CD-ROMs, and floppy diskettes imported by non-commercial Research and Development institutions approved by the Ministry of Science and Technology. These items fall under heading No. 85.24 of the First Schedule to the Customs Tariff Act, 1975. The exemption applies to the excess customs duty specified in the First Schedule and the entire additional customs duty, provided the importer presents a certificate from a qualified government officer confirming the materials are for educational or scientific research purposes.
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