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of <h1>Customs Tariff Act, 1975: Additional Duties on Imports Calculated Using Customs Act Section 12; Retail Price Valuation</h1> The Customs Tariff Act, 1975, outlines the levy of additional duties on imported articles, equal to excise duty, sales tax, local taxes, and other charges. For calculating these duties, the value of the imported article is determined by aggregating any customs duty under section 12 of the Customs Act, 1962, and other applicable charges, excluding certain specified duties. The retail sale price, with permissible abatements, is used for valuation when multiple prices are declared. The additional duty is supplementary to other duties imposed by law, and the provisions of the Customs Act, 1962, apply to these duties regarding drawbacks, refunds, and exemptions.
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