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of <h1>India Revises Duty Rates on Imported Goods; Changes Affect Supply to Households via Major Oil Corporations Under Customs Act</h1> The Government of India has issued Notification No. 55/2012-Customs, amending Notification 12/2012-Customs, to revise the effective duty rate on imported goods. This amendment specifically alters the provisions related to the supply of household domestic consumers by replacing the existing language concerning subsidized prices under the Public Distribution System with a new provision. The amendment specifies that the supply will be conducted by Indian Oil Corporation Limited, Hindustan Petroleum Corporation Limited, or Bharat Petroleum Corporation Limited. This change is enacted under the authority of the Customs Act, 1962, as a measure deemed necessary in the public interest.
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