Crude Petroleum from Brunei at 1% Duty under ASEAN FTA

[Customs Notification No. 126 dated 30^th December 2011]

In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No.116/2010-Customs, dated the 1st November, 2010, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i) vide number G.S.R. 875 (E), dated the 1st November, 2010, namely:-

In the said notification, in the preamble, for the figure, signs and words “2% ad valorem”, the figure, signs and words “1% ad valorem” shall be substituted.

2. This notification shall come into force with effect from 1st day of January, 2012.

F. No. 354/64/2003-TRU (Pt.I)]