Customs exemption for fairground amusements permits reduced duty and waiver of additional duty on imports for amusement parks. The Central Government exempts roundabouts, swings and other fairground amusements and their parts and accessories imported for setting up amusement parks from customs duty in excess of a specified ad valorem cap and from the whole of the additional duty, subject to the importer producing an import licence under the Import and Export Policy and giving an undertaking that the goods will remain in his possession, control and use for five years, with liability to pay the duty differential on breach.
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 exemption for fairground amusements permits reduced duty and waiver of additional duty on imports for amusement parks.
The Central Government exempts roundabouts, swings and other fairground amusements and their parts and accessories imported for setting up amusement parks from customs duty in excess of a specified ad valorem cap and from the whole of the additional duty, subject to the importer producing an import licence under the Import and Export Policy and giving an undertaking that the goods will remain in his possession, control and use for five years, with liability to pay the duty differential on breach.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
