Singapore Exemption – Rates reduced
NOTIFICATION NO. 74/2005-CUSTOMS, dated the 22nd July, 2005, exempts goods imported from Singapore in excess of 25% of the applied rate of duty. This is made ‘nil' now.
Similarly Notification No. 75/2005-CUSTOMS, exempts certain other goods, in excess of 65%. Now this is made 50%.
"applied rate of duty" means the standard rate of duty specified in the First Schedule to the Customs Tariff Act, 1975, read with any other notification for the time being in force, issued in respect of such goods under sub-section (1) of section 25 of the Customs Act, 1962.
Notification No. 10/2008-Customs dated the 15th January, 2008 exempts over 500 items imported from Singapore at various effective rates – these rates are also now reduced.
Notification No. ., Dated: June 19, 2009 and Notification No. ., Dated: June 19, 2009