Customs exemption for sponge iron: duty above a 10 percent ad valorem cap and additional duty waived for eligible plants. Sponge iron imported for use in integrated steel plants is exempted from customs duty to the extent that such duty exceeds an ad valorem cap of 10 percent and is wholly exempted from the additional duty otherwise leviable under the customs tariff, with 'integrated steel plants' defined as facilities processing basic raw materials through to finished saleable items and the exemption limited to the stated period.
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.
Customs exemption for sponge iron: duty above a 10 percent ad valorem cap and additional duty waived for eligible plants.
Sponge iron imported for use in integrated steel plants is exempted from customs duty to the extent that such duty exceeds an ad valorem cap of 10 percent and is wholly exempted from the additional duty otherwise leviable under the customs tariff, with "integrated steel plants" defined as facilities processing basic raw materials through to finished saleable items and the exemption limited to the stated period.
Full Summary is available for active users!
Note: It is a system-generated summary and is for quick reference only.
TaxTMI 
of 
Join Channel
TaxTMI 
