Exemption to GATT Bond Articles - 156/86 - Customs -Tariff

Exemption to GATT Bond Articles Notification No. 156/86-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 the goods specified in column (3) of the Table annexed hereto and falling under Heading No. of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), specified in the corresponding entry in column (2) of the said Table, when imported into India, 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 the amount calculated at the rate specified in the corresponding entry in column (4) of the said Table. Sl. No. Heading No. of the First Schedule to the Customs Tariff Act, 1975. Description of goods Rate (1) (2) (3) (4) 1. 84.25 Power cranes. 40 per cent ad valorem 2. 84.30 or 84.31 Petroleum and gas well drilling equipment and parts thereof. 45 per cent ad-valorem 3. 84.39 Paper making machinery and component parts thereof. 40 per cent ad valorem 4. 84.66 Component parts of machine tools for working metals. 35 per cent ad valorem 5. 85.01 or 85.03 Turbo alternators and parts thereof. 40 per cent ad valorem