Exemption to goods falling under specified Sub-Headings of Chapter 89 - 237/87 - Customs -Tariff

Exemption to goods falling under specified Sub-Headings of Chapter 89 Notification No. 237/87-Cus. Dated 16-6-1987 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 163/65-Customs, dated the 16th October, 1965, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods falling under sub-heading Nos. 8901.10, 8901.20, 8901.30, 8901.90, 8902.00, 8904.00, 8905.10, 8905.90 and 8906.00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and manufactured in a warehouse in accordance with the provisions of section 65 of the first-mentioned Act, from - (i) the whole of the duty of customs leviable thereon, which is specified in the said First Schedule, and (ii) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act; Provided that if any such goods (that is to say, vessels and other floating structures) are subsequently intended to be broken, a bill of entry in respect of such goods shall be presented to the Collector of Customs, and thereupon such goods shall be chargeable with the duty which would be payable on such goods as if such goods had been imported and entered for home consumption under section 46 of the first-mentioned Act on the date of the presentation of such bill of entry to the Collector of Customs for the purposes of break up of such goods.