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<h1>Govt exempts woollen and synthetic rags from customs duties over 30% under Notification 56/87-Cus, Customs Act 1962.</h1> The Central Government, under the authority of the Customs Act, 1962, has issued Notification No. 56/87-Cus dated March 1, 1987, granting an exemption on customs duties for woollen and synthetic rags. These items, classified under Chapter 63 of the First Schedule to the Customs Tariff Act, 1975, are exempted from customs duties exceeding 30 percent ad valorem when imported into India. This exemption is deemed necessary in the public interest.