Hot Briquetted Iron - 255/86 - Customs -Tariff

Hot Briquetted Iron Notification No. 255/86-Cus. Dated 17-4-1986 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 hot briquetted iron (HBI), falling within Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by or on behalf of an electric arc furnace unit, 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 5 per cent ad valorem and from the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act. 2. This notification shall be in force upto and inclusive of the 30th day of June, 1986.