Customs duty cap on specified motor vehicle components allows reduced import duty and waives additional duty for manufacturing use. Exempts specified components and parts imported for manufacture of motor vehicles from so much of Customs duty as is in excess of the amount calculated at the rate of 50 per cent ad valorem and from the whole of the additional duty under section 3 of the Customs Tariff Act, subject to conditions: certificate of use from the Assistant Collector of Central Excise; importer's undertaking as to use; maintenance and production of accounts certified by the Assistant Collector of Central Excise within three months or extended period; and payment of differential duty on failure to comply.
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Customs duty cap on specified motor vehicle components allows reduced import duty and waives additional duty for manufacturing use.
Exempts specified components and parts imported for manufacture of motor vehicles from so much of Customs duty as is in excess of the amount calculated at the rate of 50 per cent ad valorem and from the whole of the additional duty under section 3 of the Customs Tariff Act, subject to conditions: certificate of use from the Assistant Collector of Central Excise; importer's undertaking as to use; maintenance and production of accounts certified by the Assistant Collector of Central Excise within three months or extended period; and payment of differential duty on failure to comply.
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