Imports under EPCG Scheme - Amendment to Notification No. 110/95-Cus. - 31/96 - Customs -Tariff

Imports under EPCG Scheme - Amendment to Notification No. 110/95-Cus. Notification No. 31/96-Cus Dated 17-6-1996 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 makes the following further amendments in the notification of the Government of India, in the Ministry of Finance (Department of Revenue), No. 110/95-Customs, dated the 5th June, 1995, namely :- In the said notification, - (a) in condition (6), the following proviso shall be added, namely :- "Provided that the capital goods may be installed in the factory of another manufacturer whose name and address are endorsed on the licence referred to in condition (1) where the bond for the full difference of duty in terms of condition (3), with a Bank Guarantee is executed by the importer and such manufacturer binding themselves jointly and severally to fulfil the export obligation and all other conditions of this notification not to pay duty with interest in case of default"; (b) in the TABLE, in column (2), against serial No. 4, for the figures "10%", the figures "20%" shall be substituted, (c) in the Explanation, in clause (v), for the words "in terms of this notification", the words, brackets, letters and figures "in terms of this notification, or making of supplies of such products in terms of clauses (a), (c), (e), (f) and (i) of paragraph 121 of the Export and Import Policy" shall be substituted.