Classification of magnetic ferrite as a chemical intermediate: treated under chemical tariff heading and captive use attracts no duty recovery. Magnetic ferrite with a binder in powder or pellet form, produced by grinding, drying and calcining of iron-oxide and carbonates, is classifiable under the chemical tariff heading corresponding to ferrites; the Board endorsed this classification and specified retrospective CET subheading treatment. When captively consumed in manufacture of dutiable finished magnet articles, no duty is recoverable under the cited notification, and pending assessments are to be finalised accordingly.
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Provisions expressly mentioned in the judgment/order text.
Classification of magnetic ferrite as a chemical intermediate: treated under chemical tariff heading and captive use attracts no duty recovery.
Magnetic ferrite with a binder in powder or pellet form, produced by grinding, drying and calcining of iron-oxide and carbonates, is classifiable under the chemical tariff heading corresponding to ferrites; the Board endorsed this classification and specified retrospective CET subheading treatment. When captively consumed in manufacture of dutiable finished magnet articles, no duty is recoverable under the cited notification, and pending assessments are to be finalised accordingly.
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