CBIC notifies revised Definition of Laboratory Chemicals under Customs Tariff Act

The Central Board of Indirect Taxes and Customs (CBIC) has issued a notification revising the definition of "laboratory chemicals" under the Customs Tariff Act. The change is aimed at bringing clarity to the classification of chemicals used in laboratories for scientific and research purposes. The revised definition will affect how customs duties are applied to such imports, potentially reducing disputes over tariff classifications. This move is seen as part of the government’s broader effort to simplify trade regulations and promote ease of doing business, especially in sectors like pharmaceuticals and biotechnology that rely heavily on imported chemicals.