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2011 (3) TMI 29 - CESTAT, CHENNAIRate of basic customs duty - The case of Commissioner of Central Excise Vs Ambika Silk Mills, the Tribunal has held that the value of cut pieces or sub-standard goods has to be lower than the value of standard goods – As per Notification No.2/95-CE dt. 4.1.95, the effective rate of duty is 15% ad valorem or Rs.15 per sq. mtr whichever is higher - The assessees adopted the rate of basic customs duty as 17.5% which, they submit, is higher than Rs.15 per sq.mtr - Allowed the appeals in favour of assessee.
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