Exempts interest accrued on the customs duties payable at the time of clearance from Customs Bonded Warehouses by STP, EHTP units - 132/04 - Customs - Non Tariff

Exempts interest accrued on the customs duties payable at the time of clearance from Customs Bonded Warehouses by STP, EHTP units 25th November, 2004 Notification No.132/2004-Customs (N.T.) In exercise of the powers conferred by sub-section (2) of section 61 of the Customs Act, 1962 (52 of 1962) (hereinafter referred to as said Act) and in supersession of the notification of Central Board of Excise and Customs, No 67/95 (NT)- CUSTOMS, dated the 1 st November, 1995 vide number S.O.870 (E), dated the 1 st November, 1995, the Central Board of Excise and Customs , being satisfied that it is necessary so to do in the public interest, hereby exempts interest accrued on the customs duties payable on the capital goods, components and spares of capital goods and material handling equipments( fork-lifts, overhead cranes, mobile cranes, crawler cranes, hoists and stackers), office equipments, captive power plants including captive generating sets, spares of captive power plants and captive generating sets, tools, jigs, gauges, fixtures, moulds, dies instruments and accessories,( other than raw materials , components and consumables ) authorised to be imported by an export oriented undertaking or an Electronic Hardware Technology Park (EHTP) unit or a Software Technology Park (STP) Unit and warehoused under Chapter IX of the said Act, at the time of clearance from Customs Bonded Warehouses under section 68 of the said Customs Act. Explanation . - For the purposes of this notification, (i) " Electronic Hardware Technology Park (EHTP) unit" means a unit established under and in accordance with the Electronic Hardware Technology Park Scheme notified by the Government of India in the Ministry of Commerce, vide, notification No. 5(RE-95)/92-97, dated the 30 th April, 1995 and approved by the Inter Ministerial Standing Committee; (ii) "export oriented undertaking" has the same meaning as assigned to " hundred per cent export oriented undertaking" in clause (ii) to the Explanation 2 to sub-section (1) of section 3 of the Central Excise Act, 1944(1 of 1944); and (iii) " Software Technology Park (STP) unit " means a unit established under and in accordance with the Scheme notified by the Government of India in the Ministry of Commerce, vide, notification No. 4/(RE-95/92-97), dated the 30 th April, 1995 and approved by the Inter Ministerial Standing Committee. F. No 305/25/2004-FTT V.Kezo Under Secretary to the Government of India