Fertilizer Plant - Renovation - Import of Goods Falling within Chapters 84, 85 or 90 - 276/92 - Customs -Tariff

Fertilizer Plant - Renovation - Import of Goods Falling within Chapters 84, 85 or 90 Notification No. 276/92-Cus Dated 23-9-1992 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 goods falling within Chapters 84, 85 or 90 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for renovation or modernisation of a fertiliser plant, from the whole of the duty of customs leviable thereon under the said First Schedule subject to the following conditions, namely :- (i) an officer not below the rank of a Deputy Secretary in the Department of Fertiliser, - (a) certifies that the scheme for renovation or modernisation, as the case may be, of the said fertiliser plant has been granted techno-economic clearance by the said Department; and (b) recommends, in each case, the grant of the aforesaid exemption to the said goods for such scheme; (ii) an officer not below the rank of Additional Industrial Advisor in the Directorate General of Technical Development in the Ministry of Industry of the Government of India certifies, in each case, that the goods in respect of which exemption is claimed are, or will be, required for the purpose specified above, (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 in the manner specified above, he shall be liable to pay an amount equal to the duty leviable on the said goods but for the exemption contained herein.