Customs duty cap limits duty on specified imported stamps, plans, proofs, illustrations and antique coins to an ad valorem rate. The Central Government exempts specified imported goods classified under particular Customs Tariff headings from customs duty insofar as the duty exceeds an amount calculated at a 65% ad valorem rate, thereby capping payable duty at that ad valorem amount. The exemption is applied in the public interest and is limited to imports of the listed descriptions-unused postage stamps; plans, drawings and designs; proofs; illustrations for book binding; and antique coins-when classified under the stated First Schedule headings.
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 duty on specified imported stamps, plans, proofs, illustrations and antique coins to an ad valorem rate.
The Central Government exempts specified imported goods classified under particular Customs Tariff headings from customs duty insofar as the duty exceeds an amount calculated at a 65% ad valorem rate, thereby capping payable duty at that ad valorem amount. The exemption is applied in the public interest and is limited to imports of the listed descriptions-unused postage stamps; plans, drawings and designs; proofs; illustrations for book binding; and antique coins-when classified under the stated First Schedule headings.
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