Customs duty cap limits chargeable ad valorem duty on imported jigs, fixtures and moulds to a fixed capped rate. The Central Government exempts imports of jigs, fixtures and moulds listed in the First Schedule to the Customs Tariff Act from that part of customs duty specified in the Schedule which is in excess of 25 per cent ad valorem, thereby capping the effective customs liability on those items at a 25 per cent ad valorem rate, under the authority conferred by the Customs Act for public interest exemptions.
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 duty cap limits chargeable ad valorem duty on imported jigs, fixtures and moulds to a fixed capped rate.
The Central Government exempts imports of jigs, fixtures and moulds listed in the First Schedule to the Customs Tariff Act from that part of customs duty specified in the Schedule which is in excess of 25 per cent ad valorem, thereby capping the effective customs liability on those items at a 25 per cent ad valorem rate, under the authority conferred by the Customs Act for public interest exemptions.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
