Exemption to sponge iron [Heading No. 72.03] - 197/90 - Customs -Tariff

Exemption to sponge iron [Heading No. 72.03] Notification No. 197/90-Cus. Dated 18-6-1990 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 pubic interest so to do, hereby exempts high grade raw ground sponge iron falling under Heading No. 72.03 of the First Schedle to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of iron powder, from so much 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 30% ad valorem.