Import duty reduced on certain woven fabrics
Import duty on Woven fabrics of carded wool or of carded fine animal hair and woven fabrics of combed wool or of combed fine animal hair has been reduced by way of an exemption Notification. The tariff rate of these products is 12.5% Advalorem or certain specific rate (ranging from Rs 155 per Sq Mtr to Rs 75 per Sq Mtr) which ever is higher. While there is no change in the Advalorem rate, the exemption has been given for the specific rate. Thus, the effective rate of duty now is the reduced specific rate or the 12.5% Advalorem whichever is higher.
Notification , Dated: May 26, 2006