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CBIC restores concessional import duty on lab chemicals
short by / on Friday, 2 August, 2024
CBIC has issued an order modifying the recent duty hike on imported laboratory chemicals, effectively restoring a concessional 10% import duty for genuine users. This move comes in response to concerns raised following the Union budget, which had increased the duty to prevent tax evasion. Importers failing to comply with certain conditions will be ineligible for the concessional rate.
read more at Knn India