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of <h1>India Revises Customs Duty Rates with Notification No. 12/2012, Superseded by No. 50/2017 Effective July 1, 2017.</h1> The Government of India, through Notification No. 12/2012, set effective customs duty rates for various imported goods under the Customs Act, 1962. This notification, which superseded the earlier Notification No. 21/2002, outlines specific duty rates for goods categorized under different chapters of the Customs Tariff Act, 1975. The notification specifies exemptions and conditions for reduced duty rates based on the type of goods, their intended use, and compliance with certain conditions. It includes a detailed table listing goods, their descriptions, standard and additional duty rates, and applicable conditions. This notification was later superseded by Notification No. 50/2017, effective from July 1, 2017.
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