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2 ANNEX 2A SCHEDULE OF THE REPUBLIC OF INDIA GENERAL NOTES 1. Harmonized Tariff Schedule of the Republic of India: The provisions of this schedule are expressed in terms of the Ha rmonized Tariff Schedule of the Republic of India at the 8 digit level. The interpretation of the provisions of this schedule, including the goods coverage, shall be governed by the General Notes, Section Notes, and Chapter Notes of the Tariff Act of India. 2. Modality: The following modality shall apply for the elimination / reduction of basic customs duties by India pursuant to Article 2.3: (a) List of Products for Early Harvest Programme On the originating goods of Singapore prov ided in this list, the duties shall be eliminated entirely and such goods will receive duty free entry into India from Singapore from 1 st August 2005 (b) List of Products for Phased Elimination in Duty On the originating goods of Singapore pr ovided in this List, the duties shall be removed in five stages beginning from 1 st August 2005 and such goods shall receive duty free entry into I ndia from Singapore, effective 1 st April 2009. The margin of preference offered by Indi a has been indicated in the List. (c) List of Products for Phased Reduction in Duty On the originating goods of Singapore pr ovided in this List, the duties shall be reduced in five stages beginning 1st August 2005 and such goods shall receive entry into India at concessi onal duties. The margin of preference offered by India has been indicated in the List. (d) List of Products excluded from any concession in Duty No concessions in duties shall be offered on goods provided in this List. Such goods whether originating or otherwise, shall enter into India from Singapore on the applied MFN duties. 3. Margin of Preference: Margin of Preference (MOP) offered by India to Singapore on specific products, shall be calculated on the Most Favoured Nation (MFN) import duty applicable on the date of impor t. For example, if the MFN duty on a particular product is 20%, and India offers a MOP of 10% to Singapore, the duty reduction for import from Singapore will become 20% – 10% of 20% = 2%. Hence, the applicable rate of duty for that particular originating product comi ng from Singapore will be 20-2 = 18%. If the MOP of 100% is offered to Singapore, then such originating goods shall receive duty free entry into India from Singapore.
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