Effective rate of basic customs duty on certain refractory raw materials falling under Chapters 25, 26, 28 or 38
Show AI Summary
Cap on basic customs duty for specified refractory raw materials restricts payable duty to a prescribed ad valorem rate.
The Central Government, exercising statutory power in the public interest, exempts certain refractory raw materials (specified chromite ore, fused magnesia, magnesia-chrome, magnesia-lime and magnesia-alumina sinters) falling under Chapters 25, 26, 28 or 38 of the Customs Tariff Schedule from so much of the basic customs duty as exceeds 55% ad valorem, thereby establishing a ceiling on payable basic customs duty for those goods.