Effective rate of duty on goods and materials obtained by breaking up of ships etc. - 173/88 - Central Excise - Tariff

Effective rate of duty on goods and materials obtained by breaking up of ships etc.

Notification No. 173/88-C.E.

Dated 13-5-1988

In exercise of the powers conferred by sub-rule (1) of rule 8 of the Central Excise Rules, 1944, and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue No. 93/88-Central Excises, dated the 1st March, 1988, the Central Government hereby exempts goods and materials obtained by breaking up of ships, boats and other floating structures, 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. 365 per tonne :

Provided that the said goods and materials have been obtained from breaking up of ships, boats, and other floating structures,

(i) when imported on or after the 1st day of March, 1988, duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) at the rate of Rs. 750 per Light Displacement Tonnage has been paid, and the additional duty leviable thereon under section 3 of the said Customs Tariff Act at the rate of Rs. 365 per Light Displacement Tonnage, has been paid; or

(ii) when imported before the 1st day of March, 1988, duty of customs leviable thereon under the said First Schedule at the rate of Rs. 1035 per Light Displacement Tonnage, has been paid, and the additional duty leviable thereon under the said section 3 at the rate of Rs. 365 per Light Displacement Tonnage, has been paid.