Customs ad valorem exemption thresholds revised, amending multiple exemption notifications and extending specified notification expiry dates. Customs ad valorem exemption thresholds are revised by the Central Government under section 25 of the Customs Act, 1962, by amending six existing exemption notifications through textual substitution: replacing prescribed ad valorem benchmarks or clause wording to limit exemption to the portion of duty in excess of a stipulated ad valorem rate, and in one case extending the notification's terminal date.
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Customs ad valorem exemption thresholds revised, amending multiple exemption notifications and extending specified notification expiry dates.
Customs ad valorem exemption thresholds are revised by the Central Government under section 25 of the Customs Act, 1962, by amending six existing exemption notifications through textual substitution: replacing prescribed ad valorem benchmarks or clause wording to limit exemption to the portion of duty in excess of a stipulated ad valorem rate, and in one case extending the notification's terminal date.
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