Excise exemption for CNC machine tools limits duty to a specified ad valorem rate, preventing excess levy. Notification exempts CNC machine tools within Chapter 84 of the Central Excise Tariff from so much of the duty of excise leviable thereon as is in excess of the amount calculated at the rate of 5 per cent ad valorem, exercised under the government's power to grant exemptions in the public interest.
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Excise exemption for CNC machine tools limits duty to a specified ad valorem rate, preventing excess levy.
Notification exempts CNC machine tools within Chapter 84 of the Central Excise Tariff from so much of the duty of excise leviable thereon as is in excess of the amount calculated at the rate of 5 per cent ad valorem, exercised under the government's power to grant exemptions in the public interest.
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