Exemption to sponge iron imported for use in electric arc furnace - 482/86 - Customs -Tariff

Exemption to sponge iron imported for use in electric arc furnace Notification No. 482/86-Cus. Dated 4-12-1986 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, No. 210/85-Customs, dated the 1st July, 1985, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts sponge iron, falling within Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for use in electric arc furnace, 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 20 per cent ad valorem, and from the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act: Provided that the proper officer is satisfied that the imported sponge iron is in fact used in electric arc furnace. 2. This notification shall be in force upto and inclusive of the 31st day of May, 1987.