Iron and steel obtained from breaking of ship - 146/86 - Central Excise - Tariff

Iron and steel obtained from breaking of ship

Notification No. 146/86-C.E.

Dated 1-3-1986

In exercise of the powers conferred by sub-rule (1) of rule 8 of the Central Excise Rules, 1944, the Central Government hereby exempts goods falling under heading Nos. 72.15 and 73.09 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. 305 per tonne :

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

(i) on which 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. 1,400 per Light Displacement Tonnage, or

(ii) imported on or before the 28th day of February, 1986 and on which appropriate additional duty leviable thereon under section 3 of the Customs Tariff Act, 1975 (51 of 1975), has been paid.