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of <h1>Imported Cinematograph Films Exempt from Auxiliary Customs Duty Over 40% Under Customs Act, 1962</h1> The Central Government, under the powers of the Customs Act, 1962, and the Finance Bill, 1987, exempts imported cinematograph films, classified under Heading No. 37.06 of the Customs Tariff Act, 1975, from a portion of the auxiliary customs duty. This exemption applies to the duty exceeding 40% of the film's value, specifically covering the cost of the film print and the associated freight and insurance charges. This measure is deemed necessary in the public interest and is enacted under the Provisional Collection of Taxes Act, 1931.
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