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Motor Spirit (Additional duty of Customs)
Notification
No. 57 dated 1st August 1998
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 motor spirit commonly
known as petrol, falling under heading No. 27.10 of the First Schedule to the
Customs Tariff Act, 1975 (51 of 1976), when imported into India, from so much of
the additional duty leviable thereon under sub-section (1) of Section 3 of the
said Customs Tariff Act, as is equivalent to the additional duty of excise
leviable on motor spirit commonly known as
petrol under section 1-11 read with Second Schedule of the Finance(No.2)
Act, 1998(21 of 1998).
Motor
Spirit (Additional duty of Customs) - Rs. 1/ ltr.
By
clause 106 of Finance Bill (No.2), 1988, the Second Schedule is introduced
below:
SECOND
SCHEDULE
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Sl.
No.
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Description
of goods
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Rate
of duty
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(1)
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(2)
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(3)
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1.
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Motor
spirit commonly known as petrol
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Rs.1/ltr.
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(1)
In case of goods specified in the Second Schedule, being goods imported
into India, there shall be levied and collected as an additional duty of customs
an amount calculated at the rate set forth in the said Schedule.
(2)
The additional duty of customs referred to in sub-section (1) shall be in
addition to any other duties of customs chargeable on such goods under the
Customs Act, or any other law for the time being in force.
(3)
The premium of the Customs Act and the rules and regulations made
thereunder, including those relating to refunds and exemption from duties,
shall, as far as may be, apply in relation to the levy and collection of the
additional duty of Customs leviable under the section in respect of any goods as
they apply in relation to the levy and collection of the duties of customs on
such goods under that Act or these rules and regulations as the case may be.
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