Exemption to round abouts, swings and other fairground amusements and parts and accessories thereof [Ch. 95] - 8/91 - Customs -Tariff

Exemption to round abouts, swings and other fairground amusements and parts and accessories thereof [ Ch. 95] Notification No. 8/91-Cus. Dated 18-2-1991 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. 242/90-Customs, dated the 17th September, 1990, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Round abouts, swings and other fairground amusements and parts and accessories thereof (hereinafter referred to as the said goods) falling under heading No. 95.08 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for setting up of amusement parks, from - (a) 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 45% ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act; subject to the following conditions, namely :- (i) the importer shall produce to the Assistant Collector of Customs at the time of importation an import licence issued under and in accordance with the provisions of paragraph 158 of the Import and Export Policy; and (ii) the importer gives an undertaking to the Assistant Collector of Customs at the time and place of importation to the effect that the said goods shall remain in his possession, control and used for the purpose for which they were imported and shall not be sold or parted with for a period of five years from the date of importation and in the event of his failure to comply with the same, he shall pay on demand an amount equal to the difference between the duty leviable on such goods but for the exemption contained herein and that already paid at the time of importation. Explanation : For the purpose of condition (i), the expression "Import and Export Policy" means Import and Export Policy, April, 1990 — March, 1993, published vide Public Notice of the Government of India in the Ministry of Commerce No. 1 - ITC (PN) 90 - 93, dated the 30th March, 1990, as amended from time to time.