Lamp black and carbon black - 265/86 - Customs -Tariff

Lamp black and carbon black Notification No. 265/86-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 lamp black and carbon black falling within Chapter 28 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the manufacture of printing ink or black paints (hereinafter referred to as the imported goods), from 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 55% ad valorem, subject to the condition that importer furnishes an undertaking to the effect that :— (a) the imported goods shall be used for the purpose specified above ; (b) an account of the 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 the 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.