Customs duty exemption for cutting knives in rolls reduces applicable levy on imports under specified tariff entries. Cutting knives in rolls imported for manufacture of clicking or cutting dies and falling under the First Schedule to the Customs Tariff Act are exempted from customs duty in excess of 20 per cent ad valorem and from the entire additional duty leviable under section 3 of the Customs Tariff Act, pursuant to the public interest power under sub section (1) of section 25 of the Customs Act, 1962.
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Provisions expressly mentioned in the judgment/order text.
Customs duty exemption for cutting knives in rolls reduces applicable levy on imports under specified tariff entries.
Cutting knives in rolls imported for manufacture of clicking or cutting dies and falling under the First Schedule to the Customs Tariff Act are exempted from customs duty in excess of 20 per cent ad valorem and from the entire additional duty leviable under section 3 of the Customs Tariff Act, pursuant to the public interest power under sub section (1) of section 25 of the Customs Act, 1962.
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