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of <h1>Excise Duty Exemption Clarified for Foundry Grade Iron with 0.2% Phosphorus in Both Solid and Molten Forms.</h1> The circular addresses the issue of excise duty exemption for foundry grade iron with a phosphorus content of 0.2% and above, as per Notification No. 54/86-CE. It clarifies that the exemption applies to both solid and molten forms of foundry grade iron, provided they have the same composition. The Board concludes that molten iron, used to conserve energy during manufacturing, qualifies for the exemption, similar to its solid counterpart. This decision ensures that the exemption remains applicable under the new tariff for foundry grade iron, irrespective of its physical state.
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