Exemption to Imports From Least Developed Countries
NOTIFICATION No. dated 13.08.2008, provides a complicated exemption to goods imported from the Least Developed Countries.
++ For goods other than those specified in Appendix I and II, the effective rate is 60% of the applied rate. Applied Rate is the standard rate in the tariff read with any exemption notification.
++ Under Appendix-II, there are different exemption rates from the applied rates ranging from 4% to 40%.
++ Appendix – II has no rates – it is only an exclusion list.
Now for Sl. No. 1 above the effective rate is made 40% and for the items in Sl.No. 2 above, there is a fifty percent hike in the effective rates.
NOTIFICATION NO. Dated: September 15, 2010