Section 45 - Regulatory duties of customs - Finance Act, 1966

45. Regulatory duties of customs (1) With a view to regulating or bringing greater economy in imports, there shall be levied and collected, with effect from such date and at such rate, as may be specified in this behalf by the Central Government by notification in the Official Gazette, on all or any of the goods mentioned in the First Schedule to the Tariff Act or in that Schedule as amended by a subsequent Central Act, if any, a regulatory duty of customs not exceeding- (a) 25 per cent. of the rate, if any, specified in the said First Schedule read with any notification issued under section 3A or sub-section (1) of section 4 of the Tariff Act; or (b) 10 per cent. of the value of the goods as determined in accordance with the provisions of section 14 of the Customs Act 1962(52 of 1962), whichever is higher: