Exemption from Auxiliary Duty in Excess of 45% Ad Valorem on Copper Wire Bars, Copper Cathodes and Copper Wire Rods Produced out of Copper Concentrates - 256/92 - Customs -Tariff

Exemption from Auxiliary Duty in Excess of 45% Ad Valorem on Copper Wire Bars, Copper Cathodes and Copper Wire Rods Produced out of Copper Concentrates Notification No. 256/92-Cus. Dated 7-8-1992 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 copper wire bars, copper cathodes and copper wire rods falling within Chapter 74 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and produced out of copper concentrates sent out of India for toll smelting or toll processing, when imported into India, from so much of the auxiliary duty 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 toll smelting or toll processing costs, as the case may be, that is to say, - (a) labour charges, (b) cost of material (other than the cost of goods sent out of India) used in such toll smelting or toll processing, and (c) any other charges which are payable in connection with the toll smelting or toll processing abroad; and (ii) the insurance and freight charges, both ways, subject to the following conditions, namely :- (a) the copper wire bars, copper cathodes or copper wire rods, as the case may be, are imported within one year of the date of sending of copper concentrates out of India, and (b) sufficient evidence exists to show that the copper wire bars, copper cathodes or copper wire rods, as the case may be, which are imported have in fact been obtained out of toll smelting or toll processing of the copper concentrates sent out of India.