Effective rate for Application Software falling within Chapter 49 or Heading No. 85.24 - 78/94 - Customs -Tariff

Effective rate for Application Software falling within Chapter 49 or Heading No. 85.24 Notification No. 78/94-Cus. Dated 1-3-1994 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Application Software falling within Chapter 49 or under heading No. 85.24 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much of the duty of customs leviable thereon which is specified in the said First Schedule, as is in excess of the amount calculated at the rate of 20% ad valorem. Explanation. - For the purposes of this notification, the term "Application Software" shall mean software programmes developed to solve specific problems, but does not include those software programmes that are concerned with the basic internal operations of the computer.