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Application of section 3A excise scheme to re-rolling mills and induction furnaces revised; parameters and exclusions updated. The circular implements new notifications effective 1 August 1997 revising the section 3A scheme for re-rolling mills and induction furnaces: parameter e is fixed at 0.30 for low speed and 0.75 for high speed mills with a speed cutoff of 8.5 metres per second; w is restructured with new nominal diameter slabs and nominal diameter is defined as the distance between pinion centers on the last rolling stand. New tariff sub-headings and transitional specific duty rates apply to stocks held on 1 August 1997; waste and scrap held on that date remain subject to ad valorem duty. Certain integrated and composite plants are excluded from the scheme, waste and scrap in manufacture are exempted, and concessional duty is prescribed for mills below 200 mm nominal diameter.
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Application of section 3A excise scheme to re-rolling mills and induction furnaces revised; parameters and exclusions updated.
The circular implements new notifications effective 1 August 1997 revising the section 3A scheme for re-rolling mills and induction furnaces: parameter e is fixed at 0.30 for low speed and 0.75 for high speed mills with a speed cutoff of 8.5 metres per second; w is restructured with new nominal diameter slabs and nominal diameter is defined as the distance between pinion centers on the last rolling stand. New tariff sub-headings and transitional specific duty rates apply to stocks held on 1 August 1997; waste and scrap held on that date remain subject to ad valorem duty. Certain integrated and composite plants are excluded from the scheme, waste and scrap in manufacture are exempted, and concessional duty is prescribed for mills below 200 mm nominal diameter.
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