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Peak rate of basic customs duty reduced from 40% to 35% |
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Surcharge continued at 10%. This will also apply to new peak rate of 35% |
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SAD extended to import by traders also with immediate effect. Petroleum products are exempt from SAD. The other existing exemptions have been continued |
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Basic duty on kerosene for parallel marketing raised from 30% to 35% |
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Basic duty on crude reduced from 20% to 15% and on products (other than kerosene) reduced from 30% to 25% |
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Ad valorem or specific duty on "whichever is higher basis" has been fixed for number of textile fabrics and garments. The details are available in the Explanatory memorandum. These changes are effective from 1st March, 2000 |
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A number of items are allowed to be imported from Sri Lanka at concessional rate. These changes are also effective from 1st March, 2000 |