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of <h1>India Grants 7.5% Concessional Customs Duty on Tea and Yeast Imports from Sri Lanka under Customs Act, 1962.</h1> The Central Government of India, under the Customs Act, 1962, has issued a notification granting a concessional customs duty rate of 7.5% on tea and yeast imported from Sri Lanka under a Free Trade Agreement. This exemption applies to goods under specified sub-headings of the Customs Tariff Act, 1975, and is subject to conditions such as proof of Sri Lankan origin and adherence to a Tariff Rate Quota of 15 million kilograms annually, with a reduced quota of 12.5 million kilograms for the year 2000. Importers must comply with procedures specified by the Indian government.
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