Exemption to used machinery and equipments falling within Chapter 84 or 85 - 220/90 - Customs -Tariff

Exemption to used machinery and equipments falling within Chapter 84 or 85 Notification No. 220/90-Cus. Dated 26-7-1990 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 used machinery and equipments (hereinafter referred to as machinery), falling within Chapter 84 or 85 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India by the project exporters, 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 25% ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, subject to the condition that at the time of clearance of the machinery, the importer produces before the Assistant Collector of Customs - (i) a certificate from an officer not below the rank of Joint Secretary in the Ministry of Commerce, Government of India to the effect that the project for which the machinery was initially purchased has been cleared by the Working Group of the Export Import Bank of India established under section 3 of the Export-Import Bank of India Act, 1981 (28 of 1981); (ii) a certificate issued by a Chartered Engineer to the effect that the machinery has been used in the project for a period of not less than five years. Explanation. - In this notification, the expression "project exporter" means an individual or a partnership firm or a company or a corporation which is engaged in setting up of projects abroad.