Customs exemption amendments narrow product scope, delete a table entry, and limit duty relief by an excess over rate formula. Central Government amends three customs exemption notifications by substituting or omitting specified textual provisions: replacing 'magnetic tape' with 'magnetic tapes for sound recording' to narrow product scope; deleting Sl. No. 1 and its entries from a notification table; and replacing descriptive duty language with a formula limiting exemption to that portion of customs duty in the First Schedule exceeding an amount calculated at fifty per cent ad valorem.
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Customs exemption amendments narrow product scope, delete a table entry, and limit duty relief by an excess over rate formula.
Central Government amends three customs exemption notifications by substituting or omitting specified textual provisions: replacing "magnetic tape" with "magnetic tapes for sound recording" to narrow product scope; deleting Sl. No. 1 and its entries from a notification table; and replacing descriptive duty language with a formula limiting exemption to that portion of customs duty in the First Schedule exceeding an amount calculated at fifty per cent ad valorem.
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