Section 22 - Amendment of Act 32 of 1934 - Finance Act, 1963

22. Amendment of Act 32 of 1934. In the Indian Tariff Act, 1934 (hereinafter referred to as the Tariff Act), (1) in section 2A, (i) in sub-section (1), (a) after the words manufactured in India occurring before the Explanation, the following shall be inserted, namely :- and if such excise duty on a like article is leviable at any percentage of its value, the customs duty to which the imported article shall be so liable shall be calculated at that percentage of the value of the imported article. ; (b) in the Explanation, for the words, In this sub-section , the words, brackets, figure and letter In this sub-section and sub-section (1A) shall be substituted; (ii) after sub-section (1), the following sub-section shall be inserted, namely: (1A) For the purpose of calculating under this section the customs duty on any imported article equal to the excise duty for the time being leviable on a like article, if produced or manufactured in India, where such excise duty is leviable at any percentage of its value, the value of the imported article shall, notwithstanding anything contained in section 14 of the Customs Act, 1962 (52 of 1962) be the aggregate of (i) the value of the imported article determined under sub-section (1) of the said section 14 or the tariff value of such article fixed under sub-section (2) of that section, as the case may be; (ii) any duty of customs chargeable on that article under section 12 of the Customs Act, 1962 (52 of 1962) other than the duty referred to in sub-section (1); and (iii) any sum chargeable on that article under any law for the time being in force as an addition to, and in the same manner as, a duty of customs. ; (2) the First Schedule shall be amended in the manner specified in the Second Schedule to this Act.