Exemption to specified goods falling within Chapter 29 or 30 - 296/88 - Customs -Tariff

Exemption to specified goods falling within Chapter 29 or 30 Notification No. 296/88-Cus. Dated 1-11-1988 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 the goods specified in the Table annexed hereto and falling within Chapter 29 or Chapter 30 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), 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 25 per cent ad valorem ; and (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act : Provided that the goods so imported are used for the purpose of manufacture of drugs and hormones falling within the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 27/88-Customs, dated the 1st March, 1988 : Provided further that the importer furnishes an undertaking to the effect that - (a) the said imported goods shall be used for the purpose specified above; (b) an account of the said imported goods received and consumed in the place of manufacture for the aforesaid purpose shall be maintained by the manufacturer in the manner specified by the Assistant Collector of Customs; (c) he shall produce the extract of such account, duly certified by the said manufacturer, evidencing receipt of the said imported goods in the premises of the place of manufacture, within a period of three months from the date of importation or such extended period as the Assistant Collector of Customs may allow; and (d) he shall pay on demand, in the event of his failure to comply with the requirements of clause (a), (b) or (c) above, an amount equal to the difference between the duty leviable on such quantity of the said imported goods but for the exemption contained herein and that already paid at the time of importation. THE TABLE Sl. No. Description of goods (1) (2) 1. Prostaglandin F 2 Alpha (PGF 2 ) 2. Lincomycin Hydrochloride