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Copper cathodes, wire bars and wire rods
Notification
No. 24 dated
1st March 2001
In
exercise of the powers conferred by sub-section (1) of section 25 of the Customs
Act, 1962 (52 of 1962), read with sub-section (6) of section 3 of the Customs
Tariff Act, 1975 (51 of 1975), and in supersession of the notification of
the Government of India in the Ministry of Finance (Department of Revenue) No.
127/2000-Customs, dated the 5th October, 2000, published in the
Gazette of India vide number G.S.R. 771(E) dated 5th October, 2000,
except as respect things done or omitted to be done before such supersession,
the Central Government, being satisfied that it is necessary in the public
interest so to do, hereby exempts copper cathodes, wire bars and wire rods
falling under Chapter 74 of the First Schedule to the said Customs Tariff Act
and produced out of copper reverts, the said copper reverts having been exported
out of India for toll smelting or toll processing, when imported into India, -
(a)
from so much of duty of customs leviable thereon which is specified in
the said First Schedule, and
(b)
from so much of additional duty leviable thereon under sub-section (1) of
section (3) of the said Customs Tariff Act, (c)
from the much of special additional duty leviable thereon under
sub-section (1) of section 3A of the said Customs Tariff Act,
as
is in excess of the duties which would be leviable if the value of the said
goods were equal to the aggregate of-
(i)
the toll smelting or toll processing costs, as the case may be, that is
to say,-
(a)
labour charges,
(b)
cost of material (other than the cost of the goods exported out of India) used
in such toll smelting or toll processing, and
(c)
any other charges which are payable in connection with the toll smelting or toll
processing abroad; and
(ii)
the insurance and freight charges both ways,
subject
to the following conditions, namely:-
(I)
the copper cathodes, wire bars or wire rods, as the case may be, are
imported within one year of the date of export of copper reverts out of India;
and
(II)
sufficient evidence is shown that the copper cathodes, wire bars or wire
rods, as the case may be, which are imported have in fact been obtained out of
toll smelting or toll processing of the copper reverts exported out of India.
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