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of <h1>Customs Act 1962: Concessional Duty for SAARC Imports with Exemptions; Rescinded by Notification No. 12/2020-Customs.</h1> The notification, issued on August 10, 1999, under the Customs Act, 1962, outlines concessional duty rates for goods imported from SAARC countries under the SAARC Preferential Trade Agreement, 1995. It specifies exemptions for certain goods listed in two parts of an annexed table when imported from countries in Appendices I and II. The notification excludes certain items from these concessions, including vanaspati, acrylic yarn, specific copper products, and zinc oxide from Nepal beyond specified quantities. The notification was amended multiple times and eventually rescinded by Notification No. 12/2020-Customs on February 2, 2020.
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