High carbon steel - 90/86 - Customs -Tariff

High carbon steel Notification No. 90/86-Cus. Dated 17-2-1986 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 products of High Carbon Steel, falling within sub-Chapter II, and products of Alloy Steel falling within sub-Chapter IV, of 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 of 70% ad valorem. Explanation : For the purpose of this notification, the expression "High Carbon Steel" means steel containing by weight, not less than 0.60 per cent of carbon and having a content by weight less than 0.04 per cent of Phosphorous and sulphur taken separately and less than 0.07 per cent of these elements taken together. 2. This notification shall come into force on the 28th day of February, 1986.