Auxiliary duty - 120/92 - Customs -Tariff

Auxiliary duty Notification No. 120/92-Cus. Dated 1-3-1992 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-clause (4) of clause 114 of the Finance Bill, 1992, which clause has, by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), the force of law, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods specified in column (2) of the Table annexed hereto, being goods mentioned in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the said First Schedule), when imported into India, from so much of the auxiliary duty of customs leviable thereon under sub-clause (1) of clause 114 of the said Finance Bill as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table : Provided that nothing contained in this notification shall affect the exemption granted under any other notification of the Government of India for the time being in force, from the auxiliary duty of customs in respect of the goods referred to in this notification. TABLE S. No. Description of goods Rate (1) (2) (3) 1. Crude Petroleum falling under heading No. 27.09 of the said First Schedule Rs. 500 per tonne 2. All other goods 45 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)