Supersedes Notification No. 103/81-Cus. to prescribe effective duty on specified steel tubes for the manufacture of specified gas cylinders - 50/93 - Customs -Tariff

Supersedes Notification No. 103/81-Cus. to prescribe effective duty on specified steel tubes for the manufacture of specified gas cylinders Notification No. 50/93-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. 103/81-Customs, dated the 1st April, 1981, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts steel tubes, falling within Chapter 73 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of gas cylinders conforming to the specifications laid down in IS:7285-1974 or IS:7312-1974 of the Indian Standards Institution, 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 25% ad valorem. Provided that the importer furnishes an undertaking to the effect that - (a) the said imported goods shall be used for the purpose specified above; (b) an account of the said imported goods received and consumed in the place of manufacture for the aforesaid purpose shall be main tained in the manner specified by the Assistant Collector of Cus toms; (c) he shall produce the extract of such account duly certified by the manufacturer evidencing receipt of the said imported goods in the premises of the place of manufacture within a period of 3 months or such extended period as the Assistant Collector of Customs may allow; and (d) he shall pay, on demand, in the event of his failure to comply with (a), (b) or (c) above, an amount equal to the difference between the duty leviable on such quantity of the said imported goods but for the exemption contained herein and that already paid at the time of importation.