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 1 Replies

Prakash Yedhula (Lawyer)     14 July 2009

The statutory or the highest rate of duty is specified in the Tariff Schedules for each of the articles.  The rate of duty so specified may be reduced by issue of exemption notifications.  For computing the amount of duty payable, the rate of duty indicated in the exemption notification has to be taken. Such rate is commonly known as ‘Effective rate of duty’.  If the exemption notification imposes any conditions, the reduced rate of duty is applied subject to fulfillment of the conditions laid down therein. 


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