Excise duty exemption for specified ferrous goods caps payable duty to prescribed ad valorem or per tonne rates. Exempts specified iron and steel goods under Chapters 72 and 73 from excise duty to the extent duty exceeds prescribed capped rates; the exemption reduces leviable duty to amounts calculated at specified ad valorem percentages or fixed per tonne amounts as mapped in a table matching tariff headings and subheadings to the applicable cap type and rate.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Excise duty exemption for specified ferrous goods caps payable duty to prescribed ad valorem or per tonne rates.
Exempts specified iron and steel goods under Chapters 72 and 73 from excise duty to the extent duty exceeds prescribed capped rates; the exemption reduces leviable duty to amounts calculated at specified ad valorem percentages or fixed per tonne amounts as mapped in a table matching tariff headings and subheadings to the applicable cap type and rate.
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