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<h1>Customs Duty Reduced to 25% for Oleo Pine Resin Imports for Manufacturing Gum Resin and Turpentine Until Dec 31, 1988.</h1> Notification No. 1/88-Cus, dated January 1, 1988, issued under the Customs Act, 1962, exempts oleo pine resin, classified under Chapter 13 of the Customs Tariff Act, 1975, from a portion of customs duty when imported into India for manufacturing gum resin and turpentine. The exemption reduces the duty to 25% ad valorem. This exemption is effective until December 31, 1988.