custom duty rate

This query is : Resolved

rap (Querist)
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03 April 2009 Sir,

Ferro molybdenum is classified under Chapter 72 under HS code : 72027000.

As per the custom tariff notification No: 02/2009 dated 2-1-2009, the basic custom duty applicable for HS code : 72027000 is 5%. However as per custom tariff (as available in CBEC site) is custom duty for HS code : 72027000 is 10%. why this difference in rate ? Please advice

CA.Hanumantha Reddy

CA.Hanumantha Reddy (Expert)
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03 April 2009 The rate mentioned in HSC 72027000 is 10% only however with certain conditions as mentioned in the Notification No. 21/2002 dated 01.03.2002 the rate of duty would be 5% for more clarity pls refer Notification No. In this regard, the rate of 5% would be applicable only if you have fulfilled conditions in the said notification otherwise the rate of duty would be 10%
Hope your doubt is clarified.

rap

rap (Querist)
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17 April 2009 I could not get any information regarding conditions in notification 21/2002 relating to product code 72027000.
please clarify the position & conditions specially for ferro molybdenum.

Hoping for early reply.

MAHESH KUMAR

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CA.Hanumantha Reddy

CA.Hanumantha Reddy (Expert)
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20 April 2009 In the Notification No. 21/2002 for Sl.No. 198 and entries relating thereto is substituted by 7202…….all goods as specified in Notification No. 02/2009. In this regard, the conditions lay down in the Notification No. 21/2002 is not amended. It will be applicable for Notification No. 02/2009 also.

For simplicity, pls read the conditions in the Notification No. 21/2002 along with Notification No.02/2009.