Customs tariff amendments rationalize Basic Customs Duty and consolidate notification based rates into the statutory Schedule. Amendments to the First Schedule to the Customs Tariff Act, 1975 prescribe immediate provisional increases for selected items and effect a statutory ... Summary
Customs tariff amendments rationalize Basic Customs Duty and consolidate notification based rates into the statutory Schedule.
Amendments to the First Schedule to the Customs Tariff Act, 1975 prescribe immediate provisional increases for selected items and effect a statutory consolidation of applied Basic Customs Duty rates previously administered through notifications. Transitional provisions maintain certain notification based rates for an interim period, after which corresponding entries will be omitted and BCD rates will operate through the Schedule. The package includes sectoral rationalisations across electronics, solar, agriculture, chemicals, textiles, metals and medical instruments, and adds new tariff entries to align with HS 2022 and departmental requests.
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