Exempts seamless hot-finished pipes and tubes of stainless steel from basic customs duty in excess of 60% ad valorem subject to specified end use - 086/90 - Customs -Tariff

Exempts seamless hot-finished pipes and tubes of stainless steel from basic customs duty in excess of 60% ad valorem subject to specified end use. Notification No. 86/90-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), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 314/83-Customs, dated the 26th November, 1983, the Central Government being satisfied that it is necessary in the public interest so to do, hereby exempts seamless hot-finished pipes and tubes of stainless steel having specifications mentioned in the Table annexed hereto and falling under sub-heading No. 7304.49 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of cold drawn seamless tubes and pipes of stainless steel, 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 60% ad valorem subject to the conditions, namely : - (i) the importer produces a certificate from an officer not below the rank of an Additional Industrial Adviser in the Directorate General of Technical Development in the Ministry of Industry, Government of India to the effect that he is registered as a manufacturer of cold-drawn seamless pipes and tubes of stainless steel with the said Directorate; (ii) the importer executes a bond in such form and for such sum as may be specified by the Assistant Collector of Customs, undertaking to pay, on demand, in respect of such quantity of the imported goods as is not proved to have been used in the manufacture of cold-drawn seamless pipes and tubes of stainless steel, an amount equal to the difference between the duty leviable on such quantity but for the exemption contained herein and that already paid at the time of importation; and (iii) the importer produces a certificate within a period of six months from the date of clearance of the imported goods, from the Assistant Collector of Central Excise having jurisdiction over the factory of the importer to the effect that the imported goods have been used for the above said purpose. TABLE Specifications of seamless hot-finished pipes and tubes of stainless steel (1) Outer diameter 30 mm to 290 mm ; (2) Wall thickness 2.50 mm and above; and (3) Length 4 to 7 metres.