Customs duty cap on imported lead and zinc limits duty to the specified ad valorem rate, overriding higher tariffs. The Central Government, under section 25(1) of the Customs Act, 1962, exempts specified First Schedule tariff items for lead and zinc from so much of the customs duty as exceeds the amount calculated at the ad valorem rate set out in the Table, effectively capping duty on those imported goods at the stated ad valorem rate; a proviso preserves existing exemptions under other notifications.
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Customs duty cap on imported lead and zinc limits duty to the specified ad valorem rate, overriding higher tariffs.
The Central Government, under section 25(1) of the Customs Act, 1962, exempts specified First Schedule tariff items for lead and zinc from so much of the customs duty as exceeds the amount calculated at the ad valorem rate set out in the Table, effectively capping duty on those imported goods at the stated ad valorem rate; a proviso preserves existing exemptions under other notifications.
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