Parts for specified articles falling under Chapter 84 or 85 - 302/86 - Customs -Tariff

Parts for specified articles falling under Chapter 84 or 85 Notification No. 302/86-Cus. Dated 28-4-1986 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 makes the following amendment in the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 155-Customs, dated the 1st March, 1986, namely :— In the said notification, for condition (2), the following condition shall be substituted, namely :— "(2) the importer furnishes an undertaking to the effect that— (a) the said imported parts shall be used for the purpose specified above; (b) an account of the said imported parts received and consumed in the place of manufacture for the aforesaid purpose shall be maintained 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 said imported parts 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."