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of <h1>India Cuts Customs Duties to 45% for Select Machinery & Equipment Under Chapters 84 & 85 of the Customs Tariff Act</h1> The Central Government of India, under the Customs Act, 1962, has issued a notification exempting certain machinery and equipment under Chapters 84 and 85 of the Customs Tariff Act, 1975, from specific customs duties. This exemption applies to goods imported into India, reducing the customs duty to a rate of 45% ad valorem, and waiving additional customs duties. The notification includes a detailed list of machinery and equipment eligible for this exemption, such as nuclear reactors, steam turbines, hydraulic turbines, gas turbines, electric motors, and various industrial machinery, with certain exclusions. This exemption does not affect other existing exemptions.
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