Customs exemption for motor vehicle manufacture limits duty liability above prescribed ad valorem rates for different vehicle categories. The Central Government amends Notification No. 72/93 to substitute a provision that limits Customs duty exemption for components used in vehicle manufacture. Components for standard motor vehicles (excluding certain light commercial vehicles) are exempted only to the extent duty exceeds an amount calculated at a specified ad valorem rate, while components for light commercial vehicles of limited payload are exempted only to the extent duty exceeds an amount calculated at a lower specified ad valorem rate.
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Provisions expressly mentioned in the judgment/order text.
Customs exemption for motor vehicle manufacture limits duty liability above prescribed ad valorem rates for different vehicle categories.
The Central Government amends Notification No. 72/93 to substitute a provision that limits Customs duty exemption for components used in vehicle manufacture. Components for standard motor vehicles (excluding certain light commercial vehicles) are exempted only to the extent duty exceeds an amount calculated at a specified ad valorem rate, while components for light commercial vehicles of limited payload are exempted only to the extent duty exceeds an amount calculated at a lower specified ad valorem rate.
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