Exemption to plain felt sheets for manufacture of card clothing - 019/88 - Customs -Tariff

Exemption to plain felt sheets for manufacture of card clothing Notification No. 19/88-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 plain felt sheets falling under heading No. 56.02 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, for the manufacture of card clothing, 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 forty per cent ad valorem, subject to the following conditions, namely :- The importer furnishes an undertaking to the Assistant Collector of Customs, at the time of importation, to the effect that - (i) the said imported goods shall be used for the purpose specified above; and (ii) the importer shall pay, on demand, in the event of his failure to comply with the requirement of (i) 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.