Seeks to amend notification No. 1/2016-Customs(SG) dated 29.03.2016 to prescribe import prices on CIF basis at or above which safeguard duty on subject goods will not be applicable - 2/2016 - Safeguard Duty
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Safeguard duty exemption for imports priced at or above prescribed CIF thresholds, based on assessable value criteria. The amendment replaces paragraph 2 of Notification No.1/2016-Customs (SG) to provide that specified tariff items are not subject to safeguard duty when imported at or above the prescribed import price on a CIF basis, with units and currency identified per entry. The notification defines 'import price on CIF basis' as the assessable value determined under section 14 of the Customs Act, linking the exemption to customs valuation.
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Provisions expressly mentioned in the judgment/order text.
Safeguard duty exemption for imports priced at or above prescribed CIF thresholds, based on assessable value criteria.
The amendment replaces paragraph 2 of Notification No.1/2016-Customs (SG) to provide that specified tariff items are not subject to safeguard duty when imported at or above the prescribed import price on a CIF basis, with units and currency identified per entry. The notification defines "import price on CIF basis" as the assessable value determined under section 14 of the Customs Act, linking the exemption to customs valuation.
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