SCH-02 - Second Schedule - Finance Act, 1976

THE SECOND SCHEDULE (See section 31) PART I In the First Schedule to the Tariff Act, - (i) in Item No. 47(2), for the entry in the fourth column, the entry 100 per cent. ad valorem Rs. 20.00 per kilogram shall be substituted; (ii) in Item No. 63(20A), for the figures 200 in the fourth column, the figures 300 shall be substituted; (iii) in Item No. 64, for the figures 60 and 50 in the fourth and fifth columns, the figures 100 and 90 shall, respectively, be substituted; (iv) in Item Nos. 64(1) and 64(2), for the figures 40 in the fourth column against each of them, the figures 100 shall be substituted; (v) in Item Nos. 64(3) and 64(5), for the figures 50 and 60 in the fourth column against each of them, the figures 90 and 100 shall, respectively, be substituted; (vi) in Item No. 64(4), for the figures 40 , 30 and 30 in the fourth, fifth and sixth columns, the figures 100 , 90 and 90 shall, respectively, be substituted. PART II Item No. Name of article Nature of duty Standard rate of duty Preferential rate of duty if the article is the produce or manufacture of Duration of protective rates of duty The United Kingdom A British Colony 1 2 3 4 5 6 7 In the first Schedule to the Tariff Act, - (i) After Item No. 28 B, the following Item shall be inserted, namely :- 28C. Caprolactoam and Dimethyl terephthalate Revenue 150 percent. Ad valorem 140 per cent. ad vaorem 140 per cent. ad valorem ; (ii) For Item No. 63(30), the following Item shall be subsituted, namely :- 63(30) Alloy Steel and high carbon steel products, the following, namely ingots, blooms, billets, slabs, bars, flats. Rods, coils, angles shapes, sections, sheets plates, hoops stips and wire, but excluding articles specified in Item Nos. 63 (14A) and 63 (20A). Revenue 60 per cent. ad valorem . Explanation I : This Item is to be taken to apply to the goods mentioned therein even though they may be covered by any other Item in this Schedule. Explanation II : For the purposes of this Item, the expressions alloy steel and high carbon steel have the meanings respectively assigned to them in Note 1(d) and (e) of Chapter 73 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975).