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of <h1>Central Government Amends Customs Notification No. 116/90 to Clarify Rules on Computer Equipment and Software Imports.</h1> The Central Government has amended Notification No. 116/90-Customs, dated March 20, 1990, under the Customs Act, 1962. The amendments clarify that the specified timeframes for actions, such as payment of duty, apply specifically to computer equipment imported under this notification. Additionally, a new entry has been added to the notification's table, introducing application software (excluding floppy diskettes) with a CIF value exceeding Rs. 3 lakhs. An explanation is also included, defining 'Application software' as software imported after the import of computer equipment and its accompanying software under this notification.
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