High Carbon Alloy Steel [Chapter 72] - 152/86 - Customs -Tariff

High Carbon Alloy Steel [Chapter 72] Notification No. 152/86-Cus. Dated 1-3-1986 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. 90/86-Customs, dated the 17th February, 1986, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods specified in column (3) of the Table hereto annexed and falling within sub-Chapter specified in column (2) of the said Table of the Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, 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 specified in the corresponding entry in column (4) of the said Table. TABLE Sl. No. Sub-chapter of Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 Description of goods Rate (1) (2) (3) (4) 1. II High Carbon Steel 70% 2. IV Cold Rolled Electrical Steel Sheets, Grain Oriented or not 60% 3. IV Alloy Steel Other than those covered by Sl. No. 2 above 70% Explanation. — For the purpose of this notification, — (1) "High Carbon Steel" means steel containing by weight, not less than 0.60 per cent of carbon and having a content by weight not less than 0.04 per cent of phosphorus and sulphur taken separately and less than 0.07 per cent of these elements taken together; (2) "Sheets" means rolled products (other than coils for re-rolling) of any thickness and if in rectangles of a width exceeding 500 mm.