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TMI BlogExemption to specified goods imported for purpose of development of software for exportX X X X Extracts X X X X X X X X Extracts X X X X ..... the Software Technology Park Complex (hereinafter referred to as the Complex) under the Hundred per cent Export Oriented Scheme approved by the Inter-Ministerial Standing Committee on Mini-Computer/Micro-Computer based items and Computer Software (hereinafter referred to as the Standing Committee appointed by the notification of the Government of India, Department of Electronics No. 12 (38)-Comp/89, dated the 13th August, 1991, [G.S.R. No. 526 (E)] from the whole of duty of customs leviable thereon under the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and the additional duty, if any, leviable thereon under Section 3 of the second mentioned Act, subject to the following conditions, namely :- (1) the importer has been granted ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , and that the import of such goods have been authorised by the Standing Committee; (6) on the expiry of the period referred to in condition (3) the importer shall pay the following duties, namely : - (a) customs duty on capital goods and office equipments on depreciated value at rates prevalent at the time of import; (b) customs duty on unused imported raw materials or components on the value at the time of import and at rates in force at the time of clearance; (7) the importer executes a bond, in such form and for such sum and with such authority as may be prescribed by the Assistant Collector of Customs, binding himself to fulfil the export obligations and conditions stipulated in this notification, and those under the Import and Exp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aid or the software developed to be taken temporarily outside the Complex, without payment of duty, for repairs or display, as the case may be, and the importer shall be bound to comply with such conditions and limitations. 2. Notwithstanding anything contained in paragraph 1 of this notification, the exemption contained therein shall also apply to goods imported by the Society for creating the central facility and for use by the software development units in the Complex, subject to satisfaction of conditions under paragraph 1 of this notification. Explanation.: - For the purposes of this notification "society" means Software Technology Park Society established by the Government of India, Department of Electronics, and registered under th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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