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of <h1>India Adjusts Customs Duty: Raw Silk Exempt, Security Printing Machinery at 5% Rate Under Customs Act, 1962 Amendments.</h1> The Government of India has amended Notification No. 21/2002-Customs to adjust the exemption and effective duty rates for certain goods. Effective March 31, 2011, raw silk of grade 3A and above is exempt from basic duty, with specific conditions for import by the National Handloom Development Corporation. Additionally, certain machinery and equipment imported by the Security Printing and Minting Corporation of India Limited will have a 5% standard rate and no additional duty. These changes aim to align with public interest and are authorized under the Customs Act, 1962.
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