Ad valorem duty cap on imported steel scrap limits customs duty for use in electric arc or induction furnaces. Exempts melting scrap of iron or steel (other than stainless or heat resisting steel) under Heading No. 72.04 from that portion of customs duty in excess of the amount calculated at the rate of 20% ad valorem when imported for use in an electric arc furnace or induction furnace, subject to satisfaction by the proper officer that such imported melting scrap is in fact used in those furnaces.
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.
Ad valorem duty cap on imported steel scrap limits customs duty for use in electric arc or induction furnaces.
Exempts melting scrap of iron or steel (other than stainless or heat resisting steel) under Heading No. 72.04 from that portion of customs duty in excess of the amount calculated at the rate of 20% ad valorem when imported for use in an electric arc furnace or induction furnace, subject to satisfaction by the proper officer that such imported melting scrap is in fact used in those furnaces.
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