Notification New
Delhi, the 1st March, 2011 No.
24/2011-Customs |
G.S.R. (E).- In
exercise of the powers conferred by sub-section (1) of section 25 of the
Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that
it is necessary in the public interest so to do, hereby exempts copper
concentrates falling under the tariff item 2603 00 00 of the First Schedule to
the Customs Tariff Act, 1975(51 of 1975), when imported into India, from so
much of the duty of customs as is equivalent to the duty of customs leviable on
the value of gold and silver contained in such copper concentrate, subject to
the condition that the importer produces to the Assistant Commissioner of
Customs or Deputy Commissioner of Customs, as the case may be, an assay
certificate from the mining company specifying separately, the value of gold
and silver content in such copper concentrate
Illustration.-
If the total value of copper concentrate is ` 100 and value of gold and silver
in that copper concentrate is ` 40, basic customs duty shall be computed on the
value of ` 60 only. However, the total value of ` 100 shall be taken into
account, for the purposes of levy of additional duties of customs leviable
under section 3 of the Customs Tariff Act, 1975.
[F. No.
334/3/2011 –TRU]
(Sanjeev Kumar Singh)
Under Secretary
to the Government of India
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