Customs duty exemption for specified iron and steel imports limits payable duty to prescribed ad valorem rates. The Central Government, exercising Section 25(1) of the Customs Act, exempts specified iron and steel imports identified by First Schedule sub headings from customs duty to the extent that duty exceeds the amount computed at the ad valorem rates listed in the annexed Table. The notification caps duty liability for described remelting scrap, semi finished products, hot rolled rectangular sections, hoops and strips, bars and rods, angles and shapes, and certain hollow drill bars and rods, subject to the precise tariff classifications and dimensional or carbon content criteria set out in the Table.
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Customs duty exemption for specified iron and steel imports limits payable duty to prescribed ad valorem rates.
The Central Government, exercising Section 25(1) of the Customs Act, exempts specified iron and steel imports identified by First Schedule sub headings from customs duty to the extent that duty exceeds the amount computed at the ad valorem rates listed in the annexed Table. The notification caps duty liability for described remelting scrap, semi finished products, hot rolled rectangular sections, hoops and strips, bars and rods, angles and shapes, and certain hollow drill bars and rods, subject to the precise tariff classifications and dimensional or carbon content criteria set out in the Table.
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