Basic Customs Duty definition
Basic Customs Duty means the customs duty levied under the Customs Act, 1962.
Examples of Basic Customs Duty in a sentence
The Tools and the Services under this Contract shall be carried out for petroleum operation under nominated blocks or NELP/other eligible blocks and therefore, Basic Customs Duty is not payable as per the policy of the Govt.
It is hereby clarified that social welfare surcharge if applicable on Basic Customs Duty shall be allowed as pass through under Change in Law by GUVNL”.
Notification No.12/2012-Customs, dated the 17th March, 2012 amended, so as to impose Basic Customs Duty of 10% on Wheat and Tur, with immediate effect.