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of <h1>Customs Duty Reduced from 40% to 25% Under Section 25(1) of Customs Act, 1962 for Public Interest.</h1> The Central Government, under the authority of Section 25(1) of the Customs Act, 1962, has amended Notification No. 66/88-Customs dated March 1, 1988. The amendment involves reducing the customs duty rate from '40 per cent ad valorem' to '25 per cent ad valorem.' This change is deemed necessary in the public interest and is formalized through Notification No. 248/88-Customs, dated September 16, 1988, by the Ministry of Finance's Department of Revenue.
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