Effective basic duty of 20% ad valorem and 'nil' additional duty on goods of Chapters 84, 85 and 90 when im­ported for renovation and modernisation of power plants subject to contain conditions

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..... , 85 and 90 when im ported for renovation and modernisation of power plants subject to contain conditions Notification No. 86/93-Cus. Dated 28-2-1993 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 goods falling within .....

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..... ment of Power recommends, in each case, the grant of the aforesaid exemption to the said goods for such scheme; and (iii) the importer furnishes an undertaking to the Assistant Collector of Customs to the effect that the said goods shall be used for the purpose specified above and in the event of his failure to use the goods in the manner specified above, he shall be liable to pay an amount equa .....

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