Exemption for lubricating preparations limits excise duty to a prescribed ad valorem rate under statutory power. Exemption of excise duty is granted for specified lubricating preparations that do not contain petroleum oils or oils obtained from bituminous minerals and that fall under the Chapter 34 tariff heading, by exempting the portion of duty in excess of the amount calculated at a prescribed ad valorem rate.
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Provisions expressly mentioned in the judgment/order text.
Exemption for lubricating preparations limits excise duty to a prescribed ad valorem rate under statutory power.
Exemption of excise duty is granted for specified lubricating preparations that do not contain petroleum oils or oils obtained from bituminous minerals and that fall under the Chapter 34 tariff heading, by exempting the portion of duty in excess of the amount calculated at a prescribed ad valorem rate.
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