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of <h1>20% Duty Imposed on Certain Iron and Steel Scrap for Electric Arc or Induction Furnaces Under Notification No. 83/90-Cus</h1> A basic duty of 20% ad valorem is imposed on specified iron and steel melting scrap, excluding stainless steel or heat-resisting steel, under Notification No. 83/90-Cus dated March 20, 1990. This duty applies to scrap falling under Heading No. 72.04 of the First Schedule to the Customs Tariff Act, 1975, when imported into India for use in electric arc or induction furnaces. The exemption from the excess customs duty is contingent upon the proper officer's satisfaction that the imported scrap is indeed used in the specified furnaces, as per the Customs Act, 1962.
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