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of <h1>Govt Exempts Woollen & Synthetic Rags from Customs Duty Over 30% Under Notification No. 149/92-Cus, 1992</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 149/92-Cus dated March 26, 1992, to exempt woollen and synthetic rags, classified under Chapter 63 of the Customs Tariff Act, 1975, from customs duty. This exemption applies to the portion of the customs duty exceeding thirty percent ad valorem when these items are imported into India. This measure is taken in the public interest to reduce the financial burden on importers of these specific goods.
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