Customs ad valorem rate amendment lowers the applicable ad valorem duty under the specified exemption notification. Amendment substitutes the ad valorem rate in Notification No.129/76-Customs by replacing the earlier rate of twenty-five per cent with ten per cent ad valorem, effected under the powers of the Central Government under sub section (1) of section 25 of the Customs Act, 1962, by textual substitution in the original exemption notification dated 2 August 1976.
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Customs ad valorem rate amendment lowers the applicable ad valorem duty under the specified exemption notification.
Amendment substitutes the ad valorem rate in Notification No.129/76-Customs by replacing the earlier rate of twenty-five per cent with ten per cent ad valorem, effected under the powers of the Central Government under sub section (1) of section 25 of the Customs Act, 1962, by textual substitution in the original exemption notification dated 2 August 1976.
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