Customs effective rate cap for Chapter 95 imports restricts leviable duty above a prescribed ad valorem rate. The Central Government, under section 25(1) of the Customs Act, 1962, exempts imports under Chapter 95 of the First Schedule to the Customs Tariff Act, 1975 from customs duty in excess of the amount calculated at the rate of 50% ad valorem, thereby capping the effective customs liability for those goods.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Customs effective rate cap for Chapter 95 imports restricts leviable duty above a prescribed ad valorem rate.
The Central Government, under section 25(1) of the Customs Act, 1962, exempts imports under Chapter 95 of the First Schedule to the Customs Tariff Act, 1975 from customs duty in excess of the amount calculated at the rate of 50% ad valorem, thereby capping the effective customs liability for those goods.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.