Components of electronic modules of digital, analogue etc. - 345/85 - Customs -Tariff

Components of electronic modules of digital, analogue etc. Notification No. 345/85-Cus. Dated 2-12-1985 In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance, Department of Revenue, No. 215/83-Customs, dated the 23rd July, 1983, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts component parts of electronic modules (including semi-knocked down packs and completely knocked down packs) of digital, analogue, digiana and similar combination type electronic wrist watches, when imported into India for the manufacture of electronic modules, from— (a) so much of that portion of the duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), as is in excess of the amount calculated at the rate of 15 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 exemption contained in this notification shall be applicable only to those component parts which are covered by the lists thereof, certified by an officer not below the rank of a Joint Director to the Government of India in the Department of Electronics, to be required for the manufacture of electronic modules for such wrist watches; (ii) the importer produces a certificate issued by an officer not below the rank of a Joint Director to the Government of India in the Department of Electronics, to the effect that the said parts are being imported by such importer under a programme duly approved by the Department of Electronics for the manufacture of electronic modules for such wrist watches; and (iii) the importer shall, 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 goods as are 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 goods but for the exemption contained herein and that already paid at the time of importation. Explanation. — In this notification, the expression "wrist watches" means watches which are designed primarily to show the time of the day, with or without additional features.