1987 (10) TMI 56

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..... porting and dealing in acrylic plastic scrap. The petitioners possess import licence issued on December 23, 1981 and in pursuance thereto, imported 36.503 metric tonnes of acrylic plastic scrap on January 7, 1982. The petitioners filed bill of entries on March 3, 1982 and the Collector of Customs assessed the bills by levying 100% basic duty, 30% auxiliary duty and 42% countervailing duty. The ass .....

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..... that the petitioners are not re-agitating the question. 2. The Counsel for the petitioners urged that the petitioners are liable to pay 100% basic duty, plus 30% auxiliary duty and also the countervailing duty, but the levy of countervailing duty at the rate of 42% on the basis that the product imported is classifiable under Item 15(A) is not correct. The Counsel urged that the product should ha .....

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..... ling duty is concerned. 3. Accordingly, petition partly succeeds and the respondents are directed to ascertain the quantum of countervailing duty on the basis that the item imported falls under Item 68 of Central Tariff Rules. On such assessment, the petitioners undertake to pay the duty found due and on payment of such duty, the Bank guarantee furnished by the petitioners in accordance with the .....

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