Auxiliary duty - 117/87 - Customs -Tariff

Auxiliary duty Notification No. 117/87-Cus. Dated 1-3-1987 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 95 of the Finance Bill, 1987, 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 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 (1) of clause 95 of the said Finance Bill, as is in excess of the amount calculated at the rate of 40 per cent of the value representing only :— (a) the cost of the print of the cinematograph film; and (b) the freight and insurance charges incurred in respect of the print of such cinematograph film.