Catalysts containing platinum, palladium or silver produced out of the said metal recovered from spent catalyst - 296/92 - Customs -Tariff

Catalysts containing platinum, palladium or silver produced out of the said metal recovered from spent catalyst Notification No. 296/92-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), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts catalysis 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 that portion of the duty of customs leviable thereon, which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the duty which would be leviable if the value of the goods were equal to the aggregate of - (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 lo 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 duly 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.