Effective duty of 15% on recorded magnetic tapes, CD-ROMS and floppy diskettes imported by R & D institutions approved by Ministry of Science & Technology - 68/93 - Customs -Tariff

Effective duty of 15% on recorded magnetic tapes, CD-ROMS and floppy diskettes imported by R D institutions approved by Ministry of Science Technology Notification No. 68/93-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), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts recorded magnetic tapes, compact Disc - Read Only Memory (CD-ROMS) and floppy diskettes falling under the heading No. 85.24 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by non-commercial Research and Development Institutions approved by the Ministry of Science and Technology, from, - (i) so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate of 15% ad valorem ; and (ii) the whole of the additional duty of customs leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely :- the importer, at the time of clearance of the said goods, shall produce a certificate from an officer not below the rank of a Deputy Secretary to the Government of India in the Ministry of Science and Technology, certifying in each case that - (a) the magnetic tapes, CD-ROMS and floppy diskettes in respect of which exemption is claimed are recorded with educational or scientific material and are required in the research activity, (b) the Institution is not engaged in any commercial activity, and (c) the grant of exemption under this notification is recommended.