INDIA BUSINESS WORLD - March 1st - March 15th - 2008
NO COUNTERVAILING DUTY, SAD ON SCRAP IMPORTS, RULES SUPREME COURT
The Supreme Court has ruled that the revenue department cannot impose countervailing duty or additional Customs duty on scrap imports under provisions of the Customs Tariff Act. A Bench comprising Justices Ashok Bhan and JM Panchal said, "…our opinion is that if a manufacturer uses copper waste and scrap within the factory of production for the manufacture of unrefined or unwrought copper, copper sheets or circles and handicrafts, it would be entitled to exemption under the government notification of 1996."
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