CBIC RESTORES 10% DUTY ON LAB CHEMICALS
Why in the news? CBIC has reinstated a 10% import duty on chemicals for laboratory use, reversing a previous hike announced in the Union budget for FY25. The new duty applies to genuine lab users, effective from August 1, 2024.Importers must declare the end use to qualify for this rate. Key Exclusions and Compliance by …
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