Basic duty on raw silk: exemption limits customs duty to a prescribed ad valorem minimum, modifying levy application. The Central Government, using powers under section 25(1) of the Customs Act, 1962, exempts raw silk under First Schedule heading 50.02 from customs duty to the extent that duty in excess of the prescribed ad valorem rate specified in the First Schedule shall not be leviable, thereby limiting the effective basic duty on raw silk imports as a public interest tariff exemption.
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Provisions expressly mentioned in the judgment/order text.
Basic duty on raw silk: exemption limits customs duty to a prescribed ad valorem minimum, modifying levy application.
The Central Government, using powers under section 25(1) of the Customs Act, 1962, exempts raw silk under First Schedule heading 50.02 from customs duty to the extent that duty in excess of the prescribed ad valorem rate specified in the First Schedule shall not be leviable, thereby limiting the effective basic duty on raw silk imports as a public interest tariff exemption.
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