Excise duty exemption caps ad valorem duty on radios, with reduced rates for qualifying small manufacturers under clearance limits. The notification caps excise duty on radios (including transistor sets) under tariff heading 85.27 at specified ad valorem rates (fifteen per cent for one- or two-band sets; twenty per cent for others) and provides a ten per cent ad valorem reduction of those rates for units meeting capital investment and prior-year clearance value conditions, subject to exclusion where the manufacturer's aggregate clearances of excisable goods exceeded a separate threshold; capital investment is measured at face value when made and 'value' follows section 4 of the Central Excises and Salt Act.
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Excise duty exemption caps ad valorem duty on radios, with reduced rates for qualifying small manufacturers under clearance limits.
The notification caps excise duty on radios (including transistor sets) under tariff heading 85.27 at specified ad valorem rates (fifteen per cent for one- or two-band sets; twenty per cent for others) and provides a ten per cent ad valorem reduction of those rates for units meeting capital investment and prior-year clearance value conditions, subject to exclusion where the manufacturer's aggregate clearances of excisable goods exceeded a separate threshold; capital investment is measured at face value when made and "value" follows section 4 of the Central Excises and Salt Act.
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