Exemption to specified machinery for manufacture of bi-cycles - 022/88 - Customs -Tariff

Exemption to specified machinery for manufacture of bi-cycles Notification No. 22/88-Cus. Dated 1-3-1988 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 hereto annexed and falling within Chapter 84, 85 or 90 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of Bicycles, 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 customs leviable thereon under section 3 of the said Customs Tariff Act, subject to the condition that at the time of the import 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 to the effect that, - (i) the importer has executed a bond specified in this regard by the Chief Controller of Imports and Exports undertaking to export bicycles of three times the value of the goods imported within a period of five years from the date of import of the goods and that the bond so executed is backed by a bank guarantee for 150 per cent of the amount equal to the difference between the duty leviable on such goods but for the exemption contained herein and that payable in terms of this notification; and (ii) the importer has undertaken to comply with such instructions as are issued by the Chief Controller of Imports and Exports to monitor and enforce the fulfilment of the said export obligation. TABLE Sl. No. Description (1) (2) 1. Automatic Tube Straightening Cutting Machine. 2. Tube Swaging Machine. 3. Tube Poke Rolling and/or Tapering Machine. 4. Special Tube Drawing Butting Machine for both Single Side and Double Side Butting. 5. Special Three-Roll Thread Rolling Machine for Tubes. 6. Special Purpose Machine for Mitring and/or Notching of the bicycle tubes. 7. Special Machine for Assembly of Bicycle Frames. 8. Continuous Frame and Fork Brazising Machine with suitable transfer arrangement. 9. Special Machine for Frame Fork or Machining; with or without transfer arrangement with or without electronic control. 10. Automatic High Frequency Brazing Line for manufacture of handles. 11. Special Automatic Polishing Line with transfer arrangements for cycle parts. 12. Multi Station Horizontal and/or vertical Cold and Hot Forming Machines. 13. Special Purpose Cold Upsetting Line. 14. Automatic Nut Tapping Machines. 15. Rim Plant including profiling, welding sizeing. 16. Special Purpose Automatic Spoke Hole Punching Machines. 17. Special Purpose Machine for Rim Joint Grinding and/or Polishing with electronic control. 18. Automatic Transfer Line for Rim Polishing with electronic control. 19. Automatic Spoke Lacing Machine with electronic control. 20. Automatic Tuing and/or Alignment Machine with or without Robot with electronic control. 21. Machine for Automatic Assembly for Tyre Tube on Rim with or without Robot with electronic control. 22. Automatic machine for swaged and standard spokes, with electronic control. 23. Automatic Machine for nipple of capacity minimum 120 pcs. min. with header. 24. High Speed Electrostatic Paint Applicator per set with electronic control. 25. Automatic Paint Change System per set with Pneumatic and Electronic Control. 26. Automatic chain assembling machine.