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of <h1>Govt Exempts Certain Imports from Auxiliary Customs Duty Over 30% Under Customs Act, 1962 & Finance Bill, 1992</h1> The Central Government, under the authority of the Customs Act, 1962 and the Finance Bill, 1992, has issued a notification exempting certain imported goods from auxiliary customs duty exceeding 30% of their value. This exemption applies to specific goods listed in an annexed table, which includes items like iron ore pellets, lead concentrates, various polymers, industrial diamonds, locomotives, fire engines, and certain cinematographic and electrical equipment. The exemption does not apply to goods benefiting from other specified customs duty exemptions as per a separate notification dated March 1, 1992.
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