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of <h1>Government Reduces Customs Duty on Iron and Steel in Notifications 292/87-Cus., 80/90-Cus., and 83/90-Cus.</h1> The Central Government has amended three previous customs notifications related to iron and steel, namely Notification Nos. 292/87-Cus., 80/90-Cus., and 83/90-Cus., under the Customs Act, 1962. The amendments reduce the ad valorem duty rates. For Notification No. 292/87-Cus., the rate changes from 15% to 5% ad valorem. In Notification No. 80/90-Cus., the duty rate for certain entries is reduced from 40% to 20% and from 15% to 5% ad valorem. Notification No. 83/90-Cus. sees a reduction from 20% to 5% ad valorem. These changes are deemed necessary in the public interest.
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