Specified Textile Machinery - 158/86 - Customs -Tariff

Specified Textile Machinery Notification No. 158/86-Cus. Dated 1-3-1986 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 components required for the manufacture of the goods specified in column (2) of the Table below, when imported into India, from (a) so much of that portion of the duty of customs levilable 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 (b) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely :— (i) the Textile Commissioner or any officer not below the rank of the Director specifically authorised by the Textile Commissioner is satisfied and certifies in each case the description and quantity of the components as are or will be required for the manufacture of goods specified in the Table below and recommends grant of the above exemption; (ii) the importer shall by the execution of a bond in such form and for such sum as may be prescribed by the Assistant Collector of Customs binding himself, to pay on demand in respect of such components 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 components but for the exemption contained herein and that already paid at the time of importation. THE TABLE S. No. Description of goods (1) (2) 1. Open-end Rotor Spinning Machine. 2. Shuttle-less looms all types including Air and Water Jet looms. 3. Auto cone Winder. 4. Two-for-one Twister.