Section 4 of CTA, 1975 : Section 4: Levy Of Duty Where Standard Rate And Preferential Rate Are Specified

Explanation using Example

Imagine a company in India, 'Aroma Imports', is importing vanilla beans from Madagascar. Madagascar is declared as a preferential area by the Indian government, which means goods produced there may be subject to lower customs duties when imported into India. When the vanilla beans arrive at the Indian port, the customs officer assesses them at the standard rate of duty.

However, 'Aroma Import...

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