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<h1>India Hikes Customs Tariff Rate from 5% to 10% under Customs Act 1962 via Notification No. 147/2009-Cus.</h1> The Government of India, through the Ministry of Finance's Department of Revenue, has issued Notification No. 147/2009-Cus., dated December 24, 2009. This notification amends Notification No. 79/2008-Customs, initially published on June 13, 2008. The amendment involves changing the customs tariff rate from '5% ad valorem' to '10% ad valorem.' This change is made under the authority of the Customs Act, 1962, to serve the public interest. The original notification and its previous amendments were published in the Gazette of India, Extraordinary.