Customs duty exemption limits duty on specified iron and steel imports to prescribed ad valorem rates. The Central Government exempts specified iron and steel imports from that portion of customs duty in the First Schedule which exceeds the ad valorem rates set in the Table, superseding an earlier notification while preserving other existing exemptions. The Table prescribes reduced rates for identified product groups: sheet piling and welded sections (60%); railway track materials (40%); specified tubes and pipes (60%); structural components (40%); gas containers (55%); mooring chains (40%); and anchors and related parts (40%).
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Provisions expressly mentioned in the judgment/order text.
Customs duty exemption limits duty on specified iron and steel imports to prescribed ad valorem rates.
The Central Government exempts specified iron and steel imports from that portion of customs duty in the First Schedule which exceeds the ad valorem rates set in the Table, superseding an earlier notification while preserving other existing exemptions. The Table prescribes reduced rates for identified product groups: sheet piling and welded sections (60%); railway track materials (40%); specified tubes and pipes (60%); structural components (40%); gas containers (55%); mooring chains (40%); and anchors and related parts (40%).
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