Partial exemption from auxiliary duty on exposed cinematographic films - 093/88 - Customs -Tariff

Partial exemption from auxiliary duty on exposed cinematographic films Notification No. 93/88-Cus. Dated 1-3-1988 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 77 of the Finance Bill, 1988 which clause has, by virtue of the declaration made in the said Finance Bill under the Provisional Collection af 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 every cinematograph film exposed, falling under heading No. 37.06 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much of the auxiliary duty of customs leviable thereon under sub-clause (4) of clause 77 of the said Finance Bill, as is in excess of the amount calculated at the rate of 45 per cent of the value representing only — (a) the cost of print of the cinematograph film ; and (b) the freight and insurance charges incurred in respect of the print of such cinematograph film.