Exemption to raw wool and waste of wool - 055/87 - Customs -Tariff

Exemption to raw wool and waste of wool Notification No. 55/87-Cus. Dated 1-3-1987 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 raw wool, falling under heading No. 51.01, and waste of wool (including yarn waste and garnetted stock) falling under heading No. 51.03 or 51.04, of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much 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.