Auxiliary duty amendment: government inserts a new schedule entry to modify customs exemption framework.
The Central Government, under powers of the Customs Act and the Finance Act, issues Notification No. 2/88 Cus to amend Notification No. 207/87 Customs by inserting a new serial entry in the Schedule, thereby effecting an administrative adjustment to the exemption/levy framework on public interest grounds.

Customs exemption limits duty on oleo pine resin imports to a 25% ad valorem rate for specified manufacturing uses.
Central Government exempts imports of oleo pine resin from customs duty in excess of the amount calculated at 25% ad valorem when imported for the manufacture of gum resin and turpentine, exercising powers under section 25(1) of the Customs Act, 1962; the exemption is limited in time and ceases at the end of 1988.