Excise exemption for ship breaking metal: duty capped where prescribed customs payment or prior import additional duty has been paid. Iron and steel obtained from breaking of ships under the specified tariff headings are exempted from excise duty in excess of the amount calculated at the prescribed per tonne rate, provided the goods were obtained from breaking ships, boats or floating structures on which customs duty under the First Schedule was paid at the prescribed Light Displacement Tonnage rate, or which were imported on or before the stated cut off date with the appropriate additional duty under section 3 of the Customs Tariff Act paid.
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Provisions expressly mentioned in the judgment/order text.
Excise exemption for ship breaking metal: duty capped where prescribed customs payment or prior import additional duty has been paid.
Iron and steel obtained from breaking of ships under the specified tariff headings are exempted from excise duty in excess of the amount calculated at the prescribed per tonne rate, provided the goods were obtained from breaking ships, boats or floating structures on which customs duty under the First Schedule was paid at the prescribed Light Displacement Tonnage rate, or which were imported on or before the stated cut off date with the appropriate additional duty under section 3 of the Customs Tariff Act paid.
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