Customs duty cap on vinyl pyridine latex limits additional duty; notification exempts excess basic customs duty. The Central Government, exercising its statutory exemption power under the Customs Act, exempts vinyl pyridine latex, falling under the relevant tariff heading in the First Schedule to the Customs Tariff Act, from so much of the basic customs duty specified in that Schedule as is in excess of a capped ad valorem rate, thereby fixing an effective maximum basic duty applicable to that commodity.
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 on vinyl pyridine latex limits additional duty; notification exempts excess basic customs duty.
The Central Government, exercising its statutory exemption power under the Customs Act, exempts vinyl pyridine latex, falling under the relevant tariff heading in the First Schedule to the Customs Tariff Act, from so much of the basic customs duty specified in that Schedule as is in excess of a capped ad valorem rate, thereby fixing an effective maximum basic duty applicable to that commodity.
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 
