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of <h1>Customs Act Update: Revised Duty Rates for Goods Under Customs Tariff Act with New Standard and Preferential Rates</h1> The notification amends the previous notification No. 15/2005-Customs dated March 1, 2005, under the Customs Act, 1962, to prescribe effective rates of duty for certain goods under the Customs Tariff Act, 1975. The Central Government, acting in public interest, has revised the duty rates for various goods, providing both standard and preferential rates. For example, goods under tariff item 0806 20 have a standard rate of 100% and a preferential rate of 90%, while items under 2504 have a standard rate of 12.5% and a preferential rate of 5%. These changes are effective from March 1, 2006.
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