Customs exemption for crude iodine permits limited duty relief for salt iodisation, subject to bond-backed proof of use. The Central Government exempts Crude Iodine (Chapter 28) imported for iodisation of salt from customs duty in excess of 25 per cent ad valorem and from the whole of the additional duty under section 3 of the Customs Tariff Act, subject to the importer executing a bond specified by the Assistant Collector of Customs to pay, on demand, the difference in duty for any quantity not proved to have been used for iodisation.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Customs exemption for crude iodine permits limited duty relief for salt iodisation, subject to bond-backed proof of use.
The Central Government exempts Crude Iodine (Chapter 28) imported for iodisation of salt from customs duty in excess of 25 per cent ad valorem and from the whole of the additional duty under section 3 of the Customs Tariff Act, subject to the importer executing a bond specified by the Assistant Collector of Customs to pay, on demand, the difference in duty for any quantity not proved to have been used for iodisation.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
