https://www.taxtmi.com/highlights?id=87945 The GoI, exercising powers under Section 25(1) of the Customs Act, 1962, rescinds Notification No. 04/2025-Customs dated 1st February, 2025, relating to import duty exemptions. The rescission is effective 1st May, 2025, and applies prospectively, preserving legal actions taken prior to this date. The notification withdrawal stems from rationalization of Basic Customs Duty (BCD) tariff, indicating an administrative restructuring of import duty regulations to align with current economic considerations. en-us Thu, 01 May 2025 13:12:24 +0530 Thu, 01 May 2025 13:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87945 The GoI, exercising powers under Section 25(1) of the Customs Act, 1962, rescinds Notification No. 04/2025-Customs dated 1st February, 2025, relating to import duty exemptions. The rescission is effective 1st May, 2025, and applies prospectively, preserving legal actions taken prior to this date. The notification withdrawal stems from rationalization of Basic Customs Duty (BCD) tariff, indicating an administrative restructuring of import duty regulations to align with current economic considerations. Highlights Customs Thu, 01 May 2025 13:12:24 +0530 https://www.taxtmi.com/highlights?id=87945