Crude iodine [Chapter 28] - 149/86 - Customs -Tariff

Crude iodine [Chapter 28] Notification No. 149/86-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 Crude Iodine falling under Chapter 28 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), imported for the purpose of iodisation of the salt, from so much of the duty of customs leviable thereon under the said First Schedule as is in excess of 25 per cent ad valorem and from the whole of the additional duty of customs leviable thereon under section 3 of the said Customs Tariff Act: Provided that the importer, by the execution of a bond in such form and for such sum as may be specified by the Assistant Collector of Customs, binds himself to pay, on demand, in respect of such quantity of Crude Iodine, as is not proved to the satisfaction of the Assistant Collector of Customs, to have been used for the aforesaid purpose, an amount equal to the difference between the duty leviable on such quantity but for exemption contained herein and that already paid at the time of importation.