Amendment in Notification No. 21/2002 -Customs, dated the 1st March, 2002 (Exemption and effective rate of basic and additional duty for specified goods of Chapter 1 to 99.) - 054/2007 - Customs -Tariff
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Customs duty exemption cap introduced for a specified import item with conditional inclusion in annual import aggregate calculations. The notification amends the principal customs exemption schedule by inserting a proviso extending the scheme to goods at a new serial number and by revising S.No.3 to limit the exemption to goods imported up to an aggregate annual quantity, expressly including imports under the newly inserted S.No.3A for calculating the financial year aggregate. It also inserts S.No.3A specifying a tariff item subject to an exemption ceiling measured by total imports in a financial year and setting the corresponding duty column entries.
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Provisions expressly mentioned in the judgment/order text.
Customs duty exemption cap introduced for a specified import item with conditional inclusion in annual import aggregate calculations.
The notification amends the principal customs exemption schedule by inserting a proviso extending the scheme to goods at a new serial number and by revising S.No.3 to limit the exemption to goods imported up to an aggregate annual quantity, expressly including imports under the newly inserted S.No.3A for calculating the financial year aggregate. It also inserts S.No.3A specifying a tariff item subject to an exemption ceiling measured by total imports in a financial year and setting the corresponding duty column entries.
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