Sponge iron for use in integrated steel plants - 10/86 - Customs -Tariff

Sponge iron for use in integrated steel plants Notification No. 10/86-Cus. Dated 15-1-1986 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 sponge iron, falling within Chapter 73 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for use in integrated steel plants, from — (a) 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 10 per cent ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act. Explanation :— For the purpose of this notification, the expression "integrated steel plants" means a plant in which iron and steel are made from basic raw materials like iron ore, coal and limestone and the production line goes up to the stage of finished saleable items. 2. This notification Shall be in force up to and inclusive of the 31st March, 1987.