Polytetra Fluoroethylene tapes - 270/86 - Customs -Tariff

Polytetra Fluoroethylene tapes Notification No. 270/86-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 exempts Polytetra Fluoro ethylene Tapes falling within Chapter 39 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of Polytetra Fluoroethylene insulated wires or Polytetra Fluoroethylene insulated cables, or both, 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 75% ad valorem; and (b) the whole of the additional duty leviable thereon under section 3 of the second mentioned Act ; subject to the condition that the importer furnishes an undertaking to the effect that :— (a) the said imported goods shall be used for the purposes specified above, (b) an account of the said imported goods 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 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.