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of <h1>India Cuts Customs Duty to 45% for Certain Imported Goods Under Customs Act, 1962; Compliance Required for Benefits</h1> The Central Government of India, under the Customs Act, 1962, has issued an exemption notification for certain imported goods used in manufacturing specified products. The exemption applies to goods listed in a detailed table and reduces customs duty to 45% ad valorem while waiving additional duties under section 3 of the Customs Tariff Act, 1975. The exemption is contingent upon the approval of a qualified government officer and the importer's commitment to use the goods as specified. If the importer fails to comply, they must pay the difference in duty. The notification outlines specific goods and their corresponding manufacturing uses.
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