Exemption to copper wire bars, cathodes, wire rods and nickel [Chapter 74 or 75] - 146/89 - Customs -Tariff

Exemption to copper wire bars, cathodes, wire rods and nickel [Chapter 74 or 75] Notification No. 146/89-Cus. Dated 25-4-1989 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-clause (4) of clause 35 of the Finance Bill, 1989, which clause has by virtue of the declaration made in the said Finance Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931) the force of law, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts copper wire bars, copper cathodes, copper wire rods and nickel, falling within Chapter 74 or 75 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and produced out of copper reverts, copper spent anodes or copper anode slime 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-clause (1) of clause 35 of the said Finance Bill, as is in excess of the amount calculated at the rate of forty-five 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 the goods sent out of India) used in such toll smelling 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, copper wire rods, or nickel, as the case may be, are imported within three years of the date of sending of copper reverts, copper spent anodes or copper anode slime out of India; and (b) sufficient evidence exists to show that the copper wire bars, copper cathodes, copper wire rods or nickel, as the case may be, which are imported have in fact been obtained out of toll smelting or toll processing of the copper reverts, copper spent anodes or copper anode slime sent out of India.