Customs Valuation (Determination of Price of Imported Goods) Amendment Rules, 1988 - 53/88 - Customs - Non Tariff

Customs Valuation (Determination of Price of Imported Goods) Amendment Rules, 1988 Notification No. 53/88-Cus. (N.T.) Dated 10-8-1988 In exercise of the powers conferred by section 156 of the Customs Act, 1962 (52 of 1962) [as amended by the Customs (Amendment) Act, 1988 (Act 27 of 1988)] read with section 22 of the General Clauses Act, 1897 (10 of 1897), the Central Government hereby makes the following rules to amend the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988, namely :- 1. (1) These rules may be called the Customs Valuation (Determination of Price of Imported Goods) Amendment Rules, 1988. (2) They shall come into force on the 16th August, 1988. 2. In rule 9 of the Customs Valuation (Determination of Price of Imported Goods) Rules, 1988, in sub-rule (2), - (1) in the first proviso, for the words "twenty per cent" wherever they occur the words "sixteen per cent" shall be substituted; (2) in the second proviso, for the words "twenty-five per cent", the words "twenty-one per cent" shall be substituted.