1987 (10) TMI 56

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.... is one of the partner. The petitioner No. 1 firm carries on business of importing and dealing in acrylic plastic scrap. The petitioners possess import licence issued on December 23, 1981 and in pursuance thereto, imported 36.503 metric tonnes of acrylic plastic scrap on January 7, 1982. The petitioners filed bill of entries on March 3, 1982 and the Collector of Customs assessed the bills by levyi....

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....earned Counsel appearing on behalf of the petitioners very fairly stated that the petitioners are not re-agitating the question. 2. The Counsel for the petitioners urged that the petitioners are liable to pay 100% basic duty, plus 30% auxiliary duty and also the countervailing duty, but the levy of countervailing duty at the rate of 42% on the basis that the product imported is classifiable under....