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of <h1>Central Government Revises Tariff Rates Under Customs Act: Significant Reductions in Ad Valorem and Per Tonne Charges</h1> The Central Government has amended Notification No. 88/87-Cus, dated March 1, 1987, under the Customs Act, 1962. The amendments involve changes to the tariff rates in the notification's annexed table. For Serial No. 02, the rate is revised from '100 per cent ad valorem + Rs. 5,000 per tonne' to '30 per cent ad valorem.' For Serial No. 04(i) and 04(ii), the rates are reduced from 'Rs. 15,000 per tonne' to 'Rs. 4,000 per tonne' and from 'Rs. 7,500 per tonne' to 'Rs. 2,000 per tonne,' respectively. For Serial No. 07, the rate changes from '75% ad valorem' to 'Rs. 3,000 per tonne.'
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