Seeks to provide exemption to films, gaming software etc from customs duties
NOTIFICATION NO 27/2010-CUSTOMS
Dated : February 27, 2010
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 motion pictures, music, gaming software for use on gaming consoles printed or recorded on media falling under headings 3706 or 8523 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 (5) of section 3 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 carrier medium; and
(ii) the freight and insurance charges incurred in respect of the carrier medium.
Provided that nothing contained in this notification shall apply to motion pictures, music or gaming software imported in a pre-packaged form for retail sale.
F. No. 334/1/2010-TRU
(Prashant Kumar)
Under Secretary to the Government of India
CAclubindia
Guest
Published in Custom