Increase in customs ad valorem exemption for parts of fuel-efficient motor vehicles, expanding concessional duty relief. The Central Government, under section 25(1) of the Customs Act, 1962, amends specified notifications to substitute the concession rate in the opening paragraph, clause (a), from '25 per cent ad valorem' to '50 per cent. ad valorem', thereby increasing the ad valorem exemption applicable to parts of fuel efficient motor vehicles in the listed notifications.
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Increase in customs ad valorem exemption for parts of fuel-efficient motor vehicles, expanding concessional duty relief.
The Central Government, under section 25(1) of the Customs Act, 1962, amends specified notifications to substitute the concession rate in the opening paragraph, clause (a), from "25 per cent ad valorem" to "50 per cent. ad valorem", thereby increasing the ad valorem exemption applicable to parts of fuel efficient motor vehicles in the listed notifications.
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