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of <h1>Customs Duty on Ship Breaking Reduced to Rs. 750 per LDT via Notification No. 54/88-Cus. under Section 25(1) of Customs Act.</h1> Notification No. 54/88-Cus., dated March 1, 1988, amends Notification No. 142/87-Cus. to reduce the basic customs duty on ships for breaking to Rs. 750 per LDT. This amendment is enacted under the authority of section 25(1) of the Customs Act, 1962, by the Central Government, which considers this change necessary in the public interest. The amendment specifically replaces the previous duty rate of Rs. 1,035 with the new rate of Rs. 750 in the relevant clause of the original notification issued by the Ministry of Finance, Department of Revenue.
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