(4)Notwithstanding anything contained ins sub-section (1), where the Central Government is satisfied that, that in the interests of trade including promotion of exports, it is necessary to take immediate action for discontinuing the preferential rate, or increasing the preferential rate to a rate not exceeding the standard rate, or decreasing the preferential rate, in respect of an article specified in the First Schedule, the Central Government may, by notification in the Official Gazette, direct an amendment of the said Schedule to be made so as to provide for, such discontinuance of, or increase or decrease, as the case may be, in, the preferential rate.
