Prescribes basic and additional duty on machinery for manufacture of fishing nets - 064/89 - Customs -Tariff

Prescribes basic and additional duty on machinery for manufacture of fishing nets Notification No. 64/89-Cus. Dated 1-3-1989 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 machinery for the manufacture of fishing nets, falling within Chapter 84 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from - (a) so much of that portion of 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 35 per cent ad valorem; and (b) the whole of the additional duty of customs leviable thereon under section 3 of the said Customs Tariff Act.