Exemption to drilling rigs and spares for rural water supply projects - 158/87 - Customs -Tariff

Exemption to drilling rigs and spares for rural water supply projects Notification No. 158/87-Cus. Dated 2-4-1987 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 drilling rigs and spares thereof, when imported into India for rural water supply projects, from :- (a) the whole of the duty of customs leviable thereon, under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975); and (b) the whole of the additional duty leviable thereon, under Section 3 of the said Customs Tariff Act, subject to the following conditions, namely :- (i) the drilling rigs are gifted free of cost under a bilateral agreement between a foreign Government and the Government of India; (ii) the C.I.F. value of the said spares imported in a financial year does not exceed 10 per cent of the total C.I.F. value of the drilling rigs imported under this notification; and (iii) the importer at the time of clearance produces a certificate from an officer not lower in rank than a Deputy Secretary to the Government of India in the Ministry of Works and Housing to the effect that the drilling rigs and the said spares imported are required for rural water supply projects and in the case of the said spares, to the effect that the import is within the value limit specified in condition (ii) above. 2. This notification shall be in force upto and inclusive of the 31st day of March, 1988.