Customs duty exemption narrows payable import duty on specified base metals, exempting amounts above the prescribed ad valorem rate. The Central Government, under the Customs Act, exempts imports of specified unalloyed base metals from so much of the customs duty leviable under the First Schedule to the Customs Tariff Act as is in excess of the amount calculated at the ad valorem rate specified in the notification, identifying tariff headings and listed unalloyed metals and providing a commencement date for the exemption.
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Provisions expressly mentioned in the judgment/order text.
Customs duty exemption narrows payable import duty on specified base metals, exempting amounts above the prescribed ad valorem rate.
The Central Government, under the Customs Act, exempts imports of specified unalloyed base metals from so much of the customs duty leviable under the First Schedule to the Customs Tariff Act as is in excess of the amount calculated at the ad valorem rate specified in the notification, identifying tariff headings and listed unalloyed metals and providing a commencement date for the exemption.
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