Customs exemption rate increase amends ad valorem rate and extends exemption validity under the Customs Act. Amendment increases the ad valorem exemption rate and extends the notification's validity under section 25(1) of the Customs Act, 1962 by substituting the existing ad valorem rate with a higher rate and replacing the earlier terminal date with a later terminal date, thereby prolonging the period of the exemption specified in Notification No. 455/86-Customs.
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Customs exemption rate increase amends ad valorem rate and extends exemption validity under the Customs Act.
Amendment increases the ad valorem exemption rate and extends the notification's validity under section 25(1) of the Customs Act, 1962 by substituting the existing ad valorem rate with a higher rate and replacing the earlier terminal date with a later terminal date, thereby prolonging the period of the exemption specified in Notification No. 455/86-Customs.
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