Exemption from Auxiliary Duty in excess of 45% ad valorem on catalysts containing platinum, palladium or silver produced out of the said metal recovered from spent - 297/92 - Customs -Tariff

Exemption from Auxiliary Duty in excess of 45% ad valorem on catalysts containing platinum, palladium or silver produced out of the said metal recovered from spent catalyst Notification No. 297/92-Cus. Dated 18-11-1992 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-section (4) of section 111 of the Finance Act, 1992 (18 of 1992), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts catalysts containing platinum, palladium or silver (''platinum", "palladium" or "silver" hereinafter referred to as the said metal), as the case may be, produced out of the said metal sent out of India as such metal or produced out of the said metal recovered from spent catalyst of the said metal sent out of India, when imported into India, from so much of the auxiliary duly of customs leviable thereon under sub-section (1) of section 111 of the said Finance Act, as is in excess of the amount calculated at the rate of 45 per cent of the value of the said goods representing only - (i) the production or processing costs, that is to say, - (a) labour charges, (b) cost of materials (other than the cost of the said metal exported or the cost of the said metal recovered from the spent catalyst exported) used in such production or processing, and (c) any other charges which are payable in connection with the production or processing abroad: and (ii) the insurance and freight charges both ways, subject to the following conditions, namely :- (a) such catalysts are imported within two years of the date of export of the said metal or spent catalyst, as the case may be, (b) no drawback of duty has been claimed or paid on the export of the said metal or spent catalyst, as the case may be, and (c) sufficient evidence exists to show that the imported catalysts have been produced out of the said metal exported as such metal or produced out of the said metal recovered from the spent catalyst exported