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of <h1>Articles Intended for Permanent Magnets Not Exempt Under Notification No. 160/86-C.E., Classified Separately per CET Heading 85.05.</h1> The circular addresses whether articles intended to become permanent magnets can receive the same exemption as permanent magnets under notification No. 160/86-C.E., dated 1-3-1986. It clarifies that, with the introduction of the new Central Excise Tariff (CET) effective from 28-2-1986, such articles are classified separately under heading No. 85.05 and do not qualify for the exemption. The circular advises that these articles should not be treated on par with permanent magnets, and all pending assessments should be finalized accordingly. Trade interests should be informed of this clarification.
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