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of <h1>India Grants Customs Duty Exemption Over 60% for Chapter 1 Goods Under Notification No. 27/92-Cus</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 27/92-Cus dated March 1, 1992, granting an exemption on customs duties for all goods classified under Chapter 1 of the First Schedule to the Customs Tariff Act, 1975. This exemption applies to the portion of the customs duty that exceeds 60% ad valorem when such goods are imported into India. This measure is deemed necessary in the public interest.
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