Exemption to PV Films/Foils and Isocyanates Imported for Manufacture of Specified Goods - 072/91 - Customs -Tariff

Exemption to PV Films/Foils and Isocyanates Imported for Manufacture of Specified Goods Notification No. 72/91-Cus. Dated 25-7-1991 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, exempts goods specified in column (3) of the Table hereto annexed and falling within the Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), specified in column (2) of the said Table, when imported into India for the purpose of manufacture of the goods specified in the corresponding entry in column (4) of the said Table, 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 35 per cent ad valorem : Provided that the importer, at the time of importation, furnishes an undertaking to the Assistant Collector of Customs, 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, within a period of 3 months or such extended period as the Assistant Collector of Customs may allow; and he shall pay, on demand, in the event of his failure to comply with the requirement of items (a), (b) and (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. TABLE S. No. Chapter No. Description of goods For the manufacture of goods (1) (2) (3) (4) 1. 39 Polyurethane films and Polyurethane foils of thickness 0.3 millimeter and above but not above 0.7 millimeter Finished leather 2. 39 Polyols Polyurethane soles for footwear 3. 28 or 29 Isocyanates Polyurethane soles for footwear