Customs exemption for industrial diamonds limits duty liability above a specified ad valorem rate on imports. The Central Government exempts industrial diamonds, natural or synthetic in dust or powder form under Chapter 71 from so much of the customs duty specified in the First Schedule as exceeds the amount computed at the rate of 40% ad valorem, when imported into India, pursuant to powers under the Customs Act.
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Provisions expressly mentioned in the judgment/order text.
Customs exemption for industrial diamonds limits duty liability above a specified ad valorem rate on imports.
The Central Government exempts industrial diamonds, natural or synthetic in dust or powder form under Chapter 71 from so much of the customs duty specified in the First Schedule as exceeds the amount computed at the rate of 40% ad valorem, when imported into India, pursuant to powers under the Customs Act.
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