Exemption to magnetic tapes other than those for sound recording [Ch. 85] - 232/87 - Customs -Tariff

Exemption to magnetic tapes other than those for sound recording [ Ch. 85] Notification No. 232/87-Cus. Dated 5-6-1987 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 magnetic tapes other than those for sound recording, falling within Chapter 85 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, 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 60 per cent ad valorem, subject to the condition that an officer not lower in rank than Joint Director in the Department of Electronics of the Government of India or a Joint Director in the Directorate of Industries of a State or an Additional Industrial Adviser in the Directorate General of Technical Development of the Government of India is satisfied and certifies in each case that the importer is an Actual User (Industrial) of such magnetic tapes in question : Provided that this condition shall not apply in the case of the magnetic tapes imported by any of the following importers, namely :- (a) Electronics Trade and Technology Development Corporation Ltd.; (b) CMC Ltd.; (c) Semi-conductors Complex Ltd.