Exemption to goods imported for renovation and modernisation of fertiliser plants - 66/94 - Customs -Tariff

Exemption to goods imported for renovation and modernisation of fertiliser plants Notification No. 66/94-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, - (1) machinery, instruments, apparatus and appliances, as well as components (whether finished or not) or raw materials for the manufacture of aforesaid items and their components, required for renovation or modernisation of a fertilizer plant, and (2) spare parts, other raw materials (including semi-finished material) or consumable stores, essential for maintenance of the fertilizer plant mentioned above, (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, from the whole of the duty of customs leviable thereon under the said First Schedule and the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, subject to the conditions that - (i) an officer not below the rank of a Deputy Secretary in the Department of Fertilizers, - (a) certifies that the scheme for renovation or modernisation, as the case may be, of the said fertilizer plant has been granted techno-economic clearance by the said Department; (b) recommends, in each case, the grant of the aforesaid exemption to the said goods for such scheme; and (c) certifies, in each case, that the goods in respect of which the exemption is claimed are, or will be, required for the purpose specified above; (ii) the value of import of goods specified under clause (2) shall not exceed 10% of the value of import of the goods specified under clause (1); and (iii) the importer furnishes an undertaking to the Assistant Collector of Customs to the effect that the said goods shall be used for the purpose specified above and in the event of his failure to use the goods for such purpose, he shall be liable to pay an amount equal to the duty leviable on the said goods but for the exemption contained herein.