Supersedes Notification No. 116/92-Cus. to reduce total customs duty on power projects, coal-mining projects and projects for refining of crude petroleum - 85/93 - Customs -Tariff

Supersedes Notification No. 116/92-Cus. to reduce total customs duty on power projects, coal-mining projects and projects for refining of crude petroleum Notification No. 85/93-Cus. Dated 28-2-1993 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and-in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 116/92-Customs, dated the 1st March, 1992, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods specified in column (2) of the Table hereto annexed and falling under heading No. 98.01 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from so much 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 specified in the corresponding entry in column (3) of the said Table. TABLE S. No. Description of goods Rate of duty (1) (2) (3) 1. Power projects (including gas turbine power projects) 20% ad valorem 2. Coal mining projects 25% ad valorem 3. Projects for refining of crude petroleum 25% ad valorem Explanation. — For the purposes of this notification, the term 'Power projects (including gas turbine power projects)' shall not include Captive Power Plants set up by projects engaged in activities other than in power generation.