Effective rates for air-conditioned cars and air-conditioned coaches - 73/94 - Customs -Tariff

Effective rates for air-conditioned cars and air-conditioned coaches Notificfation No. 73/94-Cus. Dated 1-3-1994 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 air-conditioned cars and air-conditioned coaches (hereinafter referred to as the said goods), falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by specified importers (hereinafter referred to as the importer) for providing transport for tourists, from - (i) so much of the duty of customs leviable on the said goods, which is specified in the said First Schedule as is in excess of the amount calculated at the rate of 50% ad valorem; and (ii) the whole of the additional duty leviable on air-conditioned coaches under section 3 of the said Customs Tariff Act, subject to the following conditions, namely :- (1) the importer, at the time of clearance, furnishes to the Assistant Collector of Customs, in each case, - (i) a certificate from the Director General of Tourism in the Ministry of Tourism of the Government of India (hereinafter referred to as the Director General) indicating the quantity of the said goods allowed for import and recommending grant of the aforesaid exemption; (ii) an undertaking to the effect that, - (a) the said goods shall not be sold, transferred, leased or otherwise disposed of for a period of five years from the date of importation other than by sale to other specified importers with the prior approval of the said Director General; (b) the said goods shall be used for providing transport for tourists; and (c) he shall pay, on demand, in the event of his failure to comply with (a) or (b) above, an amount equal to the difference between the duty leviable on the said goods but for the exemption contained herein and that already paid at the time of importation; (2) the duty at the rate specified above shall be paid in convertible foreign currency; and (3) the C.I.F. value of air-conditioned cars and air-conditioned coaches does not excess US $ 35,000 and US $ 1,00,000 per vehicle respectively. 2. This notification shall remain in force upto and inclusive of the 28th day of February, 1995. Explanation. - For the purposes of this notification, "specified importer" means a State Tourism Corporation; or a Tour Operator or Tourist Transport Operator or Travel Agency approved by Director General of Tourism in the Ministry of Tourism, Government of India.