Exemption to specified chemicals if imported for manufacture of oxo-alcohols - 052/87 - Customs -Tariff

Exemption to specified chemicals if imported for manufacture of oxo-alcohols Notification No. 52/87-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 Di-iso-butylene, Heptene and Nonene, when imported into India for the manufacture of Oxo-alcohols, from so much of that portion of duty of cus toms leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate of 25 per cent ad valorem and from the whole of the additional duty of customs leviable thereon under section 3 of the said Customs Tariff Act: Provided that the importer, by the execution of a bond in such form and for such sum as may be specified by the Assistant Collector of Customs, binds himself to pay, on demand, in respect of such quantity of Di-iso-butylene, Heptene or Nonene 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 quantity but for the exemption contained herein and that already paid at the time of importation. 2. This notification shall be in force upto and inclusive of the 31st March, 1988.