Customs tariff exemptions adjust import duty rates for specified pearls, platinum scrap and current coin. The Central Government, under Section 25(1) of the Customs Act, 1962, exempts specified imported goods from that portion of customs duty in excess of the ad valorem rate shown in the Table. The Table caps duty for real pearls (heading 7101.10), waste and scrap of platinum group metals (heading 7112.20), and current Government of India coin (heading 7118.90) by reference to the stated rates, thereby fixing the effective customs liability on import.
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Provisions expressly mentioned in the judgment/order text.
Customs tariff exemptions adjust import duty rates for specified pearls, platinum scrap and current coin.
The Central Government, under Section 25(1) of the Customs Act, 1962, exempts specified imported goods from that portion of customs duty in excess of the ad valorem rate shown in the Table. The Table caps duty for real pearls (heading 7101.10), waste and scrap of platinum group metals (heading 7112.20), and current Government of India coin (heading 7118.90) by reference to the stated rates, thereby fixing the effective customs liability on import.
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