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of <h1>Central Government Exempts Ship Breaking Materials from Excess Excise Duty; Customs Duty Varies by Import Date</h1> The Central Government, under Notification No. 173/88-C.E. dated May 13, 1988, exempts goods and materials obtained from breaking up ships, boats, and other floating structures from excess excise duty as specified in the Central Excise Tariff Act, 1985. The duty is limited to Rs. 365 per tonne, provided specific conditions are met. For items imported on or after March 1, 1988, customs duty at Rs. 750 per Light Displacement Tonnage and an additional duty of Rs. 365 per Light Displacement Tonnage must be paid. For items imported before March 1, 1988, the customs duty is Rs. 1035 per Light Displacement Tonnage, with the same additional duty.
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