Clause 126 - Amendment of First Schedule. - FINANCE BILL, 2023

Amendment of First Schedule.

126. In the Customs Tariff Act (51 of 1975), the First Schedule shall––.

(a) be amended in the manner specified in the Second Schedule;

(b) be also amended in the manner specified in the Third Schedule;

(c) with effect from the 1st May, 2023, be also amended in the manner specified in the Fourth Schedule.

 

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Notes on Clauses:

Clause 126 seeks to amend the First Schedule to the Customs Tariff Act, in the manner specified in––

(a) the Second Schedule so as to revise the rates in respect of certain tariff items with effect from the 2nd day of February, 2023;

(b) the Third Schedule with a view to revise the rates in respect of certain tariff items, with effect from the date on which the Finance Bill, 2023 receives the assent of the President.

(c) the Fourth Schedule so as to revise the entries in respect of certain tariff items with effect from 1st May,2023.