Exemption to polyurethane films or foils imported for manufacture of finished leather - 054/87 - Customs -Tariff

Exemption to polyurethane films or foils imported for manufacture of finished leather Notification No. 54/87-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 Govern ment, being satisfied that it is necessary in the public interest so to do, hereby exempts polyurethane films or foils of thickness 0.3 millimetre and above but not above 0.7 millimetre, falling under heading No. 39.21 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of finished leather, from so much of the additional duty, which is leviable thereon under section 3 of the said Customs Tariff Act, as is in excess of 40% ad valorem: Provided that the importer furnishes an undertaking to the effect that - (a) the said imported goods shall be used for the purpose specified above; (b) an account of the said imported goods received and consumed in the place of manufacture for the aforesaid purpose shall be maintain ed in the manner specified by the Assistant Collector of Customs; (c) he shall produce the extract of such account duly certified by the manufacturer evidencing receipt of the imported goods in the premises of the place of manufacture within a period of 3 months or such extended period as the Assistant Collector of Customs may allow; and (d) he shall pay, on demand, in the event of his failure to comply with (a), (b) or (c) 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.