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of <h1>Govt Imposes 85% Customs Duty on Stainless Steel Products; Exemptions for Certain Goods Under Customs Act 1962</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 44/93-Cus dated February 28, 1993, to impose a customs duty of 85% ad valorem on specified stainless steel flat products. This notification exempts goods under heading numbers 72.19 and 72.20 of the First Schedule to the Customs Tariff Act, 1975, from a portion of the customs duty, ensuring that the duty does not exceed 85% ad valorem. This measure is taken in the public interest to regulate the import of these specified products.
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