ANNOUNCEMENT 09 Sep 2011In September 2011, the government of India announced a change in import duties.
NUMBER OF INTERVENTIONS
Notification No. 87/2011-Customs
Notification No. 20/2006-Customs
On 9 September 2011, vide Notification No. 87/2011, the Government of India introduced an exemption for cold rolled sheets of grain- oriented (CRGO) silicon-electrical steel for manufacture of transformers from the payment of additional customs duty upon import into India.
Additional duty is leviable under Section 3(5) of the Customs Tariff Act, 1975. Section 3(5) provides for the levy of additional duty, at a rate not exceeding 4%, to counter-balance sales tax, value added tax, local tax or other charges leviable on like local products.