Tariff amendment reduces ad valorem rate on raw wool under Customs Act, modifying the prior exemption rate. The Central Government, exercising sub-section (1) of section 25 of the Customs Act, 1962, amends Notification No. 64-Customs (17 March 1985) by substituting the figures and words '30 per cent ad valorem' with '20 per cent ad valorem' for raw wool (Chapter 51), thereby altering the ad valorem rate specified in the earlier exemption notification.
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Tariff amendment reduces ad valorem rate on raw wool under Customs Act, modifying the prior exemption rate.
The Central Government, exercising sub-section (1) of section 25 of the Customs Act, 1962, amends Notification No. 64-Customs (17 March 1985) by substituting the figures and words "30 per cent ad valorem" with "20 per cent ad valorem" for raw wool (Chapter 51), thereby altering the ad valorem rate specified in the earlier exemption notification.
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