EXTRACTS FROM THE CUSTOMS TARIFF ACT, 1975 (51 OF 1975) -Levy of additional duty equal to excise duty, sales tax, local taxes and other charges.
Annexure
Bill
Annexure
Taxation Laws (Amendment) Bill, 2017
EXTRACTS FROM THE CUSTOMS TARIFF ACT, 1975 (51 OF 1975)
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Levy of additional duty equal to excise duty, sales tax, local taxes and other charges.
3.(1) * * * * *
(2) For the purpose of calculating under sub-sections (1) and (3), the additional duty on any imported article, where such duty is leviable at any percentage of its value, the value of the imported article shall, notwithstanding anything contained in section 14 of the Customs Act, 1962, (52 of 1962) be the aggregate of-
(i) * * * * *
(ii) any duty of
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nation III of the Schedule to the Medicinal and Toilet Preparations (Excise Duties) Act, 1955 (16 of 1955.) the value of the imported article shall be deemed to be the retail sale price declared on the imported article less such amount of abatement, if any, from such retail sale price as the Central Government may, by notification in the Official Gazette, allow in respect of such like article under clause (2) of the said Explanation.
Explanation.-Where on any any imported article more than one retail sale price is declared, the maximum of such retail rice shall be deemed to be the retail sale price for the purposes of this section.]
(6) For the purpose of calculating under sub-section (5), the additional duty on any imported article, the
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