Exemption to specified watch components imported for manufacture of mechanical/quartz analog wristwatch - 065/87 - Customs -Tariff

Exemption to specified watch components imported for manufacture of mechanical/quartz analog wristwatch Notification No. 65/87-Cus. Dated 1-3-1987 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 parts specified in column (2) of the Table annexed hereto, when imported into India for the manufacture of mechanical wrist watches and quartz analog wrist watches or of components of such wrist watches, from - (a) so much of that portion of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table; 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 importer shall produce a certificate from the Industrial Adviser or the Additional Industrial Adviser in the Directorate General of Technical Development or the Industrial Adviser in the Office of the Development Commissioner (Small Scale Industries) of the Ministry of Industry to the effect that the said parts are required for the manufacture of such wrist watches or their components; (ii) the importer shall produce evidence to the Assistant Collector of Customs to the effect that the said parts have been imported by such importer under a programme duly approved by the Industrial Adviser or the Additional Industrial Adviser in the Directorate Gene ral of Technical Development, or the Industrial Adviser in the Office of the Development Commissioner (Small Scale Industries) of the Ministry of Industry, for the manufacture of said wrist watches or their components; (iii) the importer shall, within such period as the Assistant Collector of Customs may specify in this behalf, produce a certificate from the Assistant Collector of Central Excise in whose jurisdiction the factory manufacturing such wrist watches is situated, to the effect that the said imported parts have been used in the manufacture of the said wrist watches or their components; and (iv) the importer shall execute a bond in such form and for such sum as may be specified by the Assistant Collector of Customs, binding himself to pay on demand, in respect of such quantity of parts as is not proved to the satisfaction of the Assistant Collector of Customs to have been used for the aforesaid purpose, an amount equal to the difference between the duty leviable on such parts but for the exemption contained herein and that already paid at the time of importation. TABLE Sl. No. Description of components Rate of duty (1) (2) (3) 1. Dial foot 30% ad valorem 2. Dial ring 30% ad valorem 3. Appliques 30% ad valorem 4. Bezel ring 30% ad valorem 5. Crown 30% ad valorem 6. Crystal with or without tension ring 30% ad valorem 7. O-ring or gasket 30% ad valorem 8. Hands 30% ad valorem 9. Movement holder 60% ad valorem 10. Stem pipe 60% ad valorem 11. Spring bar/side bar 60% ad valorem 2. This notification shall be in force upto and inclusive of the 31st March, 1988. Explanation : In this notification, the expression "wrist watches" means watches which are designed primarily to show the time of the day, with or without additional features.