Breaking up of ships, boats etc. [Chapter 72] - 32/92 - Central Excise - Tariff

Breaking up of ships, boats etc. [Chapter 72]

Notification No. 32/92-C.E.

Dated 1-3-1992

In exercise of the powers conferred by sub-section (1) of section 5A of the Central Excises and Salt Act, 1944 (1 of 1944), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods and materials falling under heading No. 72.30 or 73.27 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986), from so much of the duty of excise leviable thereon which is specified in the said Schedule, as is in excess of the amount calculated at the rate of Rs. 800 per tonne:

Provided that the said goods and materials have been obtained from breaking up of ships, boats and other floating structures imported on or after the 1st day of March, 1992, on which the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) has been paid at the rate of Rs. 615 per Light Displacement Tonnage and the additional duty leviable thereon under section 3 of the said Customs Tariff Act has been paid at the rate of Rs. 800 per Light Displacement Tonnage.