Customs duty exemption caps excess duty on imported wool waste, limiting customs liability to an ad valorem rate. The notification exempts imported waste of wool (including yarn waste and garnetted stock) and woollen rags within Chapters 51 or 63 from so much of customs duty as exceeds the amount calculated at an ad valorem rate, superseding an earlier exemption and invoking Customs Act authority in the public interest.
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Customs duty exemption caps excess duty on imported wool waste, limiting customs liability to an ad valorem rate.
The notification exempts imported waste of wool (including yarn waste and garnetted stock) and woollen rags within Chapters 51 or 63 from so much of customs duty as exceeds the amount calculated at an ad valorem rate, superseding an earlier exemption and invoking Customs Act authority in the public interest.
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