Exemption to Round abouts, swings and other fairground amusements and parts and accessories thereof [Ch. 95] - 242/90 - Customs -Tariff

Exemption to Round abouts, swings and other fairground amusements and parts and accessories thereof [ Ch. 95] Notification No. 242/90-Cus. Dated 17-9-1990 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 Round abouts, swings and other fairground amusements and parts and accessories thereof (herein after 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 such 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 is an Indian citizen who has been residing abroad for a minimum period of one year immediately preceding the shipment of the said goods; (ii) the CIF cost of the said goods is paid for out of the foreign exchange earned by the importer during his stay abroad; (iii) the importer produces before the Assistant Collector of Customs at the time of importation a photocopy of his passport and a sworn affidavit executed before a Notary of the country where he was residing to the effect that he has been residing there for a period exceeding one year; and (iv) 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 be tween 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), short visits, if any, made by the said Indian citizen to India during the period specified therein shall be ignored, if the total duration of stay of these visits did not exceed three months; Provided that on sufficient cause being shown by the said Indian citizen, the Collector of Customs may condone the period of stay in India in excess of three months.