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of <h1>Government Reduces Export Duty on Finished Leather from Goats, Sheep, and Bovine Animals to 10% Ad Valorem</h1> The Central Government, under the Customs Act, 1962, has issued an exemption notification for export duty on finished leather from goats, sheep, and bovine animals, including their young ones. This exemption applies to leather falling under heading No. 14 of the Second Schedule to the Customs Tariff Act, 1975. The export duty is reduced to an amount calculated at a rate of 10% ad valorem. The definition of 'finished leather' is based on standards set by the Indian Standards Institution in IS:8170-1981.
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