Customs duty cap limits liability on specified goods to a fixed ad valorem rate under a targeted exemption. The Central Government exempts all goods falling under heading No. 40.10 of the First Schedule to the Customs Tariff Act from customs duty to the extent that such duty exceeds 35% ad valorem, thereby prescribing an effective basic duty rate of 35% ad valorem.
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Provisions expressly mentioned in the judgment/order text.
Customs duty cap limits liability on specified goods to a fixed ad valorem rate under a targeted exemption.
The Central Government exempts all goods falling under heading No. 40.10 of the First Schedule to the Customs Tariff Act from customs duty to the extent that such duty exceeds 35% ad valorem, thereby prescribing an effective basic duty rate of 35% ad valorem.
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