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Introducing the “In Favour Of” filter in Case Laws.
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of <h1>Customs Duty Reduced to 20% on Specific Mechanical Components for Specified Machines, Excluding Electronics, Under Customs Act 1962.</h1> The Central Government, under the Customs Act, 1962, exempts certain mechanical components used in manufacturing specified machines from portions of customs duty. This exemption applies to components, excluding those with thermionic valves, transistors, semiconductors, LEDs, or certain capacitors, when imported into India. The duty exemption reduces the customs duty to 20% ad valorem and waives additional duty under specific conditions. These include certification by a qualified officer and an undertaking by the importer to use the goods as specified and to pay the duty difference if the conditions are not met.
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