Effective duty cap limits customs duty on imported petroleum oils and bituminous mixtures to the notified ad valorem rate. An exemption caps customs duty on imports of petroleum oils and bituminous mixtures by disapplying any portion of the First Schedule duty in excess of an ad valorem amount, thereby creating an effective duty cap for those tariff headings under the Customs exemption power.
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Provisions expressly mentioned in the judgment/order text.
Effective duty cap limits customs duty on imported petroleum oils and bituminous mixtures to the notified ad valorem rate.
An exemption caps customs duty on imports of petroleum oils and bituminous mixtures by disapplying any portion of the First Schedule duty in excess of an ad valorem amount, thereby creating an effective duty cap for those tariff headings under the Customs exemption power.
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