Customs exemption rate change reduces ad valorem exemption in specified machinery notifications under Customs Act authority. Under the power conferred by sub-section (1) of Section 25 of the Customs Act, 1962, the Central Government directs substitution of a lower ad valorem rate for the previously stated higher ad valorem rate in Notification Nos. 76/85-Cus., 77/85-Cus., 78/85-Cus. and 66/89-Cus., thereby amending the tariff exemption language applicable to specified machinery classified in Chapter 84.
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Customs exemption rate change reduces ad valorem exemption in specified machinery notifications under Customs Act authority.
Under the power conferred by sub-section (1) of Section 25 of the Customs Act, 1962, the Central Government directs substitution of a lower ad valorem rate for the previously stated higher ad valorem rate in Notification Nos. 76/85-Cus., 77/85-Cus., 78/85-Cus. and 66/89-Cus., thereby amending the tariff exemption language applicable to specified machinery classified in Chapter 84.
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