Exemption to components for power transmission system, earth-moving machinery etc. - 315/88 - Customs -Tariff

Exemption to components for power transmission system, earth-moving machinery etc. Notification No. 315/88-Cus. Dated 15-12-1988 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 components required for the manufacture of power transmission system, for earth-moving machinery, fork lift trucks and locomotives, when imported into India, from so much of that portion of duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate of 45 per cent ad valorem, subject to the following conditions, namely :- (1) the exemption contained in this notification shall be applicable only to those components which are covered by the lists thereof, certified by an officer not below the rank of an Industrial Adviser or an Additional Industrial Ad viser in the Directorate General of Technical Development in the Ministry of Industry, to be required for the purpose specified above; (2) the importer produces a certificate issued by an officer not below the rank of an Industrial Adviser or an Additional Industrial Adviser in the Directorate General of Technical Development in the Ministry of Industry, to the ef fect that the importer is under a programme duly approved by the Ministry of Industry for the manufacture of power transmission system for, earth-moving machinery, fork lift trucks and locomotives; and (3) the importer shall, within such period as the Assistant Collector of Customs may specify in this behalf, produce a certificate issued by an Industrial Ad viser or an Additional Industrial Adviser in the said Directorate, to the effect that the said components have been used for the purpose specified above. 2. This notification shall be in force upto and inclusive of the 31st day of October, 1990.