Section 25 - Amendment of Act 32 of 1934 - Finance (No. 2) Act, 1965

25. Amendment of Act 32 of 1934. In the Indian Tariff Act, 1934 (hereinafter referred to as the Tariff Act), (a) in section 2A (i) in sub-section (1), (1) for the words shall be liable to customs duty , the following shall be substituted, namely: shall, in addition, be liable to duty (hereafter in this section referred to as the additional duty) , (2) for the words the customs duty , the words the additional duty shall be substituted; (ii) in sub-section (1A), for the words 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 , the following shall be substituted, namely: the additional duty on any imported article, where such duty ; (iii) for sub-section (2), the following sub-sections shall be substituted, namely: (2) If the Central Government is satisfied that in respect of any article imported the duty leviable under sub-section (1) does not fully countervail the excise duty chargeable on a like article if produced or manufactured in India including the excise duty chargeable on the raw materials, components or ingredients used in the production or manufacture of such article, the Central Government may, by notification in the Official Gazette, direct that the additional duty chargeable in respect of the imported article shall include an amount representing such portion of the excise duty chargeable on such raw materials, components or ingredients as may be determined by rules made by the Central Government in this behalf. (3) In making any rules for the purposes of sub-section (2), the Central Government shall have regard to the average quantum of the excise duty payable on the raw materials, components or ingredients used in the production or manufacture of such like article. (4) The duty chargeable under this section shall be in addition to any duty imposed under this Act or under any other law for the time being in force. (5) The provisions of the Customs Act, 1962 (52 of 1962) and the rules and regulations made thereunder, including those relating to refunds and exemption from duties, shall, so far as may be, apply to the duty chargeable under this section. ; (b) the First Schedule shall be amended in the manner specified in Parts I and II of the Schedule to this Act.