Exemption to 950 HS high speed hard Gelatine capsules basic machine [Ch. 84] - 183/88 - Customs -Tariff

Exemption to 950 HS high speed hard Gelatine capsules basic machine [ Ch. 84] Notification No. 183/88-Cus. Dated 25-5-1988 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 950 HS high speed hard gelatine capsules basic machine (hereinafter referred to as the machinery), falling within Chapter 84 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of gelatine capsules, 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 35 per cent ad valorem; and (b) the whole of the additional duty of custom leviable thereon under section 3 of the said Customs Tariff Act, subject to the condition that, at the time of clearance of the goods, the importer produces to the Assistant Collector of Customs a certificate issued by an officer, not lower in rank than a Joint Chief Controller of Imports and Exports of the Government of India, to the effect that, - (i) the importer has executed a bond specified in this regard by the Chief Controller of Imports and Exports of the Government of India undertaking to export gelatine capsules of three times the value of the imported machinery, within a period of five years from the date of clearance of the said machinery; and (ii) the importer has undertaken to comply with such instructions as are issued by the said Chief Controller of Imports and Exports to monitor and enforce the fulfilment of the said export obligation.