Exemption to copper wire rods [Chapter 74] - 287/87 - Customs -Tariff

Exemption to copper wire rods [Chapter 74] Notification No. 287/87-Cus. Dated 7-8-1987 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 copper wire rods, falling under Chapter 74 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by an importer who has exported corresponding quantity of copper concentrates for toll smelting, 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 30 per cent ad valorem : Provided that the Assistant Collector of Customs is satisfied, - (a) that the importer has exported the corresponding quantity of copper concentrates and produces proof of such exports; (b) that the copper wire rods are imported within three years of the date of the export of copper concentrates; and (c) that an importer applying for the benefit of the exemption under this notification has not already availed of the exemption in respect of the exported quantity of copper concentrates against which the exemption is claimed under this notification. Explanation. - For the purposes of this notification, "corresponding quantity of copper concentrates" shall be 1.042 tonnes of copper metal in concentrates exported for each tonne of copper wire rods being imported. 2. This notification shall be in force upto and inclusive of the 31st day of July, 1988.