Import of plant, machinery and equipments, spares by RBI for expansion of Currency Note Press - 136/95 - Customs -Tariff

Import of plant, machinery and equipments, spares by RBI for expansion of Currency Note Press Notification No. 136/95-Cus. Dated 4-9-1995 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 plant, machinery, equipments, spares including insurance spares, and consumables falling under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), 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, from - (a) the whole of the duty of customs leviable thereon, as specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975); and (b) the whole of the additional duty leviable thereon under section 3 of the Customs Tariff Act, 1975 (51 of 1975).