Excise duty exemption for induction furnace and hot re rolled non alloy steel clarifies capped duty rates on specified clearances. The Government exempts specified goods manufactured in induction furnace units or hot re-rolling mills from excise duty in excess of specified capped amounts per metric tonne, applicable only to goods manufactured before 1 August 1997 and cleared on or after that date. The schedule lists three categories-ingots and billets from induction furnaces; hot re rolled non alloy steel from hot re rolling mills; and hot re rolled products from mills with a finishing mill nominal diameter on the last stand not exceeding 200 millimetres-each with a defined duty cap. 'Nominal diameter of a finishing mill' is defined as the distance between pinion centres of the last rolling stand.
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Provisions expressly mentioned in the judgment/order text.
Excise duty exemption for induction furnace and hot re rolled non alloy steel clarifies capped duty rates on specified clearances.
The Government exempts specified goods manufactured in induction furnace units or hot re-rolling mills from excise duty in excess of specified capped amounts per metric tonne, applicable only to goods manufactured before 1 August 1997 and cleared on or after that date. The schedule lists three categories-ingots and billets from induction furnaces; hot re rolled non alloy steel from hot re rolling mills; and hot re rolled products from mills with a finishing mill nominal diameter on the last stand not exceeding 200 millimetres-each with a defined duty cap. "Nominal diameter of a finishing mill" is defined as the distance between pinion centres of the last rolling stand.
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