Special additional duty [Resolved]

This query is : Resolved

rohit rajagopal (Querist)

02 November 2012 f any one can throw some light on certain aspects of indirect tax laws: 1. oil exploration companies are exempted from paying customs duty on toold equipments etc imported for carrying out oil exploration activites as per notification no .21/ 2002- customs dated 1st march 2002. the notification says additional duty leviable as under Section 3(1) of the Customs Tariff Act, 1975. ( which i understand is also known as countervailing duty-CVD) is also exempted. ( my quesiton is if this understanding is correct to the extent that this additional duty is also known as CVD and is it exempted under the said notification) 2. Do oil exploration companies also have to pay special additional duties ( as under Section 3A of the Customs Tariff Act) and is this also exempted under the said notification. also Section 3A which provided for such special additional duties has been omitted?. So is it still leviable for any company given that this section has been omitted.

Can some brilliant expert kindly reply at the earliest as I have never understood indirect taxes ( being a lawyer) and my job depends on getting answers to these questions . If i dont get answers, it is most likely that i will be fired.

Read more at: https://www.caclubindia.com/forum/customs-duties-for-oil-exploration-226283.asp#.UJOkam-oztA

Rama Krishnan

Rama Krishnan (Expert)

09 November 2012
PL NOTE THE CUSTOMS TARIFF ACT AS OF TODAY DOES NOT HAVE SECTION 3A, THE SECTION IS OMMITED , HENCE THERE COULD BE NO LEVY UNDER THIS SECTIONS.

BELOW ARE THE CURRENT SECTIONS UNDER SECTION -3, WHICH LEVY DUTY,

SECTION 3(1)- LEVY OF CVD

SECTION 3 (3)- LEVY OF ADDITIONAL CVD ON SELECTED ITEMS ONLY

SECTION 3(5)- LEVY OF SPECIAL ADDITIONAL DUTY ( SAD)

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