1987 (10) TMI 56

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..... 2 is one of the partner. The petitioner No. 1 firm carries on business of importing and dealing in acrylic plastic scrap. The petitioners possess import licence issued on December 23, 1981 and in pursuance thereto, imported 36.503 metric tonnes of acrylic plastic scrap on January 7, 1982. The petitioners filed bill of entries on March 3, 1982 and the Collector of Customs assessed the bills by levy .....

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..... learned Counsel appearing on behalf of the petitioners very fairly stated that the petitioners are not re-agitating the question. 2. The Counsel for the petitioners urged that the petitioners are liable to pay 100% basic duty, plus 30% auxiliary duty and also the countervailing duty, but the levy of countervailing duty at the rate of 42% on the basis that the product imported is classifiable unde .....

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..... s are, therefore, entitled to succeed as far as the quantum of countervailing duty is concerned. 3. Accordingly, petition partly succeeds and the respondents are directed to ascertain the quantum of countervailing duty on the basis that the item imported falls under Item 68 of Central Tariff Rules. On such assessment, the petitioners undertake to pay the duty found due and on payment of such duty .....

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