Customs duty exemption caps excess import duty on specified Chapter 41 goods under statutory notification. The Central Government, under section 25(1) of the Customs Act, 1962, exempts goods under heading Nos. 41.04-41.11 of the First Schedule to the Customs Tariff Act, 1975 from that portion of basic customs duty specified in the Schedule which is in excess of 55% ad valorem, thereby capping the leviable duty on the listed Chapter 41 goods by Notification No. 56/90-Cus dated 20-3-1990.
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 exemption caps excess import duty on specified Chapter 41 goods under statutory notification.
The Central Government, under section 25(1) of the Customs Act, 1962, exempts goods under heading Nos. 41.04-41.11 of the First Schedule to the Customs Tariff Act, 1975 from that portion of basic customs duty specified in the Schedule which is in excess of 55% ad valorem, thereby capping the leviable duty on the listed Chapter 41 goods by Notification No. 56/90-Cus dated 20-3-1990.
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