Prescribes a basic duty of 30% and nil additional duty on computer equipments, system software, start-up spares subject to certain conditions - 118/90 - Customs -Tariff

Prescribes a basic duty of 30% and nil additional duty on computer equipments, system software, start-up spares subject to certain conditions Notification No. 118/90-Cus. Dated 20-3-1990 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 computer equipments falling under Heading No. 84.71, the accompanying software of such computer equipments falling under heading No. 85.24 and the start-up spares of such computer equipments falling under heading no. 84.73, of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereafter referred to as the said goods), when imported into India, 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 30 per cent ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act. subject to the conditions that - (i) at the time of import of the said goods the importer produces to the Assistant Collector of Customs, a certificate issued by an officer not lower in rank than a Joint Director in the Department of Electronics that the said goods are imported under the Policy on Computer Software Export, Software Development and Training announced by the Government of India in the Department of Electronics in 1986 and the grant of the above exemption is recommended; (ii) the importer undertakes to fulfil an export obligation of 350% of the cif value of the said goods imported within the time stipulated by the said Department of Electronics by executing a bond in such form and for such sum as may be specified by the Assistant Collector of Customs, binding himself to 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.