Exemption to goods imported in connection with on-shore oil exploration or exploitation - 515/86 - Customs -Tariff

Exemption to goods imported in connection with on-shore oil exploration or exploitation Notification No. 515/86-Cus. Dated 30-12-1986 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Department of Revenue and Banking No. 197/76-Customs, dated the 2nd August, 1976, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts goods imported into India in connection with onshore oil exploration or exploitation, from so much of that portion of the duty of customs 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 the additional duty, if any, leviable thereon under section 3 of the second mentioned Act, subject to the following conditions, namely :- (i) the importer produces a certificate in each case from an officer not below the rank of Deputy Secretary to the Government of India, in the ministry of Petroleum and Natural Gas to the effect that the goods imported are of a type and kind required for on-shore oil exploration or exploitation and will be used for such purposes; and (ii) the importer produces a certificate issued by a duly authorised officer of the Directorate General of Technical Development certifying that the goods in respect of which the exemption is claimed are such as are not manufactured in India. 2. This notification shall be in force upto and inclusive of the 31st day of March, 1988.