TypeBare Act JurisdictionCentral Government Enacted1970

Finance Act 1970 Schedule II

Second Schedule

Section Text


The Second Schedule

(See Section 28)

Part I

In the First Schedule to the Tariff Act, -

(i) in Item No. 22(3), -

(1) for the entry in the fourth column against sub-item (a), the entry "Rs. 45.00 per litre." shall be substituted;

(2) for the entry in the fourth column against sub-item (b), the entry "Rs. 30.00 per litre." shall be substituted;

(ii) in Item No. 22(4), for the entry in the fourth column against sub-item (a), the entry "Rs. 60.00 per litre or 200 per cent. ad valorem, whichever is higher." shall be substituted;

(iii) in Item No. 73(23), for the entry in the fourth column, the entry "100 per cent. ad valorem." shall be substituted;

(iv) Item No. 82(4) and the entries relating thereto shall be omitted;

(v) in Item No. 87B, for the entry in the fourth column, against sub-item (i), the entry "60 per cent. ad valorem." shall be substituted.

Part II

Item No.

Name of article

Nature of duty

Standard rate of duty

Preferential rate of duty if the article is the produce or manufacutre of

Duration of protective rates of duty

The United Kingdom

A British Colony

1

2

3

4

5

6

7

In the First Schedule to the Tariff Act, for the Intem No. 82(3), the following Item shall be substituted, namely:-

"82(3) (a)

Artificial or synthetic resins and plastic materials in any form, whether solid, liquid or pasty, or as powder, granules or flakes, or in the form of moulding powders.

Revenue

100 pe cent. ad valorem

(b)

Articles made of plastics, the following, namely:

Revenue

100 per cent. ad valorem.

(iii)

Tubes, rods, sheets, foils sticks, other rectangular or profile shapes, whether laminated or not, and whether rigid or flexible including lay flat tubings and polvinyl chloride sheets