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of <h1>Govt Reduces Customs Duty on Raw Silk to 5% Under Customs Act, 1962, Notification No. 51/89-Cus</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 51/89-Cus dated March 1, 1989, to exempt raw silk, classified under heading No. 50.02 of the First Schedule to the Customs Tariff Act, 1975, from a portion of the customs duty. This exemption reduces the duty to 5% ad valorem, aiming to align with public interest considerations.
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