Spare parts for medical equipments (except printed circuit board and ball bearings) subject to 15% duty - 124/94 - Customs -Tariff

Spare parts for medical equipments (except printed circuit board and ball bearings) subject to 15% duty Notification No. 124/94-Cus. Dated 3-6-1994 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 spare parts (other than populated printed Circuit Boards and Ball bearings), when imported into India for the maintenance of medical equipments falling under heading Nos. 90.18, 90.19, 90.20, 90.21 and sub-heading Nos. 9022.11 and 9022.21 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), from so much of that portion of the duty of customs leviable thereon which is specified in the said First Schedule as is in excess of the amount calculated at the rate of fifteen per cent ad valorem, subject to the following conditions, namely:- The importer furnishes, at the time of importation of the said spare parts, to the Assistant Collector of Customs, an undertaking to the effect that: (a) the said spare parts shall be used for the purpose specified above; (b) the importer shall within three months or such extended period as the Assistant Collector of Customs may specify in this behalf, produces necessary evidence to the satisfaction of the said Assistant Collector to the effect that the said spare parts have been used for the aforesaid purpose; (c) the importer shall pay, on demand, in the event of his failure to comply with (a) and (b) above, an amount equal to the difference between the duty leviable on such quantity of the said spare parts but for exemption contained herein and that already paid at the time of importation.