Wood Pulp Derived from Fibrous Vegetable Material Falling Within Chapter 47 - 243/92 - Customs -Tariff

Wood Pulp Derived from Fibrous Vegetable Material Falling Within Chapter 47 Notification No. 243/92-Cus. Dated 3-7-1992 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 wood pulp derived by mechanical or chemical means from any fibrous material, except rayon grade wood pulp, and falling within Chapter 47 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for use in the manufacture of newsprint, from :— (i) the whole of the duty of customs which is specified in the said Schedule to the Customs Tariff Act; and (ii) the whole of the additional duty leviable thereon under Section 3 of the said Customs Tariff Act : 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 maintained in the manner specified by the Assistant Collector of Customs; (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 and also indicating therein the details of production of newsprint and its clearance to newspaper establishments 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. Explanation:- For the purpose of this notification, (i) "newsprint" means paper intended for printing of newspapers, books and periodicals; (ii) "newsprint establishment" means establishments registered with Registrar of Newspapers for India, appointed under Section 19A of the Press and Registration of Books Act, 1867 (25 of 1867).