Exemption to electronic parts of Computer Systems - 397/86 - Customs -Tariff

Exemption to electronic parts of Computer Systems Notification No. 397/86-Cus. Dated 29-7-1986 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 electronic parts of computer numerical control systems falling under Chapter 84 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), required for the purpose of initial setting up, or for the assembly or manufacture, of such systems, from - (a) so much of that portion of the duty of customs leviable thereon which is specified in the said First Schedule as is in excess of the amount calculated at the rate of 35% ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the second mentioned Act. Provided that the authorities mentioned below are satisfied and certify in each case that the description and quantity of such parts question as are or will be required for the purpose specified above and recommend grant of the above exemption :- (i) the Industrial Adviser or Additional Industrial Adviser of the Directorate General of Technical Development of the Ministry of Industry; and (ii) the Director of Industries or the Commissioner of; Industries of the State concerned in the case of firms which are classified as falling in the small scale sector. Provided further that the importer shall, 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 parts as are not proved to the satisfaction of the Assistant Collector of Customs to have been used for the aforesaid purposes; 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.