Effective duty on specified hot rolled stainless steels coils - 47/93 - Customs -Tariff

Effective duty on specified hot rolled stainless steels coils Notification No. 47/93-Cus. Dated 28-2-1993 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Hot Rolled Stainless Steel Coils falling within Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and produced out of Stainless Steel Slabs sent out of India for conversion into Hot Rolled Stainless Steel Coils, when imported into India for cold rolling, from so much of that portion of the duty of customs leviable thereon which is specified in the said First Schedule as is in excess of the amount calculated at the rate of 60 per cent of the value of the said goods representing only - (i) conversion charges, involved in converting the said Stainless Steel Slabs to Hot Rolled Stainless Steel Coils, that is to say, - (a) labour charges, (b) cost of material (other than the cost of the goods sent out of India) used in such conversion, and (c) any other charges which are payable in connection with the such conversion abroad; and (ii) the insurance and freight charges, both ways, subject to the following conditions, namely:- (a) the Hot Rolled Stainless Steel Coils are imported within one year of the date of sending of Stainless Steel Slabs out of India; and (b) the Assistant Collector of Customs is satisfied that sufficient evidence exists to show that the imported Hot Rolled Stainless Steel Coils have in fact been produced out of Stainless Steel Slabs sent out of India.