Alloy steel - 88/86 - Customs -Tariff

Alloy steel Notification: 88/86-Cus Dated 17-Feb-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 alloy steel (excluding stainless steel) and high carbon steel in the forms described in the Table below and falling within 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 40% ad valorem . TABLE Sl. No. Description of goods (1) (2) 1. Iron or steel coils for re-rolling. 2. Universal plates of iron or steel. 3. Iron or steel wire, whether or not coated but not insulated. Explanation : For the purposes of this notification the following expressions shall have the meanings hereby assigned to them ; (1) Coils for re-rolling : Coiled semi-finished hot rolled products of a rectangular section, not less than 1.5 mm thick of a width exceeding 500 mm and of a weight of not less than 500 kgs. per piece. (2) Universal plates : Products of rectangular section, hot rolled lengthwise in a closed box or universal mill, of a thickness exceeding 5 mm but not exceeding 100 mm and of a width exceeding 150 mm but not exceeding 1200 mm. (3) High Carbon Steel : 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.