[PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II SECTION 3, SUB-SECTION (I)]
GOVERNMENT OF INDIA
MINISTRY OF FINANCE
(DEPARTMENT OF REVENUE)
New Delhi, dated the 1st March, 2005
Notification No. 15/2005-Customs
10 Phalguna, 1926 (Saka)
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, on being satisfied that it is necessary in the public interest so to do, hereby exempts goods falling under the Chapter, heading, sub-heading or tariff item of the First Schedule to the Customs Tariff Act, 1975 ( 51 of 1975), specified in column (2) of the Table below, when imported into India, from so much of the duty of customs leviable thereon under the said First Schedule as is in excess of –
a. the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table, where the standard rate of duty is leviable; and
b. the amount calculated at the rate specified in the corresponding entry in column (4) of the said Table, where the preferential rate of duty is leviable.
Explanation.- For the purposes of this notification, the rate specified in column (3) or column(4) is the ad valorem rate unless otherwise specified.
