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Reduction in Customs Duty on Cinematographic Film
Customs Notification No. 33 dated 1st
March 2003
G.S.R.
(E). - 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 cinematographic
film, exposed and developed, falling under heading 3706 of the First Schedule to
the Customs Tariff Act, 1975 (51 of 1975), when imported into India, -
(a)
from so much of the duty of customs leviable thereon which is specified
in the said First Schedule,
(b)
from so much of additional duty leviable thereon under sub-section (1) of
section 3 of the said Customs Tariff Act,
(c)
from so much of special additional duty leviable thereon under
sub-section (1) of section 3A of the said Customs Tariff Act, as is in excess of
the duties which would be leviable if the value of the said goods, for the
purposes of sub-section (1) of section 14 of the said Customs Act, were equal to
the aggregate of -
(i)
the cost of the print of the cinematographic film; and
(ii)
the freight and insurance charges incurred in respect of the print of
such cinematographic film.
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