exemption of additional duty of customs under sec.129 of Finance Act 2012

[bkumar kumar]

It is seen from the sec.129 of  Finance Act  that goods described  under  column (1)  of  the second schedule  falling under chapter 89 of the first schedule of CTA 1975  have been exempted from the whole of additional duty of customs leviable thereon during the period  from 1.3.2011  to 16.3.2012 (( as per column (2) of the  second schedule.). .  Kindly clarify  as to whether  total exemption of additional duty of  customs is available  without any conditions as per the Finance  Act and  mail a copy of  the Finance Act  for authority please.

with regards                                                                    (B. KUMAR)

AI Summary

Exemption of Additional Customs Duty Confirmed for Foreign-Going Vessels Under Section 129 of Finance Act 2012 A query was raised regarding the exemption of additional customs duty under Section 129 of the Finance Act 2012, specifically for goods listed in Chapter 89 of the first schedule of the Customs Tariff Act 1975. The exemption applies to imports of foreign-going vessels from March 1, 2011, to March 16, 2012. A response confirmed the unconditional exemption of the countervailing duty (CVD) for this period, referencing a CBEC Circular for further authority.