Exemption to materials required for manufacture of capital goods for supply to the fertilizer plants under the procedure of international competitive bidding

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..... international competitive bidding Notification No. 103/93-Cus. Dated 16-3-1993 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 materials required for the manufacture of capital goods to be supplied to the fertilizer p .....

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..... r the import or release of materials for the aforesaid purpose, and the same is produced at the time of clearance for debit by the proper officer of Customs; (2) that the import licence contains the endorsement specifying inter alia - (a) the description, quantity, and the value of materials allowed to be imported under the said licence; (b) the description and quantity of materials allowed .....

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..... uthority, for the purpose of discharging the liability in respect of customs duty as well as for discharging the obligations against the said licence; (6) that the exempt materials are utilised for the manufacture of capital goods for supply to fertilizer plants under the procedure of interna tional competitive bidding and that no portion of such materials shall be loaned, transferred, sold or d .....

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..... t the licence have been discharged, sale proceeds realised, and the bond executed by the importer in terms of condition (3) redeemed; (b) where benefit of input stage credit under rule 56A or rule 57A of Central Excise Rules, 1944 has been obtained. Explanation. - In this notification - (i) "licensing authority" means the Director General of Foreign Trade appointed under section 6 of the Fo .....

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