Exemptions from import duty related to the setting up expansion and modernisation of Note Presses - 40/96 - Customs -Tariff

Rescinded vide Notification No. 21/97-Cus dated 1-3-1997 Exemptions from import duty related to the setting up expansion and modernisation of Note Presses Notification No. 40/96-Cus. Dated 23-7-1996 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 public interest so to do, hereby exempts goods of the description specified in column (2) of the Table hereto annexed and falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from the whole of the duty of customs leviable thereon which is specified in the said First Schedule and from the whole of the additional duty leviable thereon under section 3 of the second mentioned Act. TABLE S. No. Description of goods (1) (2) 1. Plant, machinery, equipment, special tools, tackles, spares (including insurance spares), consumables and security surveillance systems when imported by or on behalf of the Reserve Bank of India or Bhartiya Reserve Bank Note Mudran Private Limited for the setting up of New Note Press projects at Salboni in West Bengal and at Mysore in Karnataka. 2. Plant, machinery, equipment, spares (including insurance spares) and consumables when imported by or on behalf of the Reserve Bank of India for expansion and modernisation of the Currency Note Press at Nasik in Maharashtra and the Bank Note Press at Dewas in Madhya Pradesh.