Exemption to specified sophisticated textile machineries

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..... in supersession of the notification of Government of India in the Ministry of Finance (Department of Revenue) No.157/86-Customs, dated the 1st March, 1986, the Central Government, being satis fied that it is necessary in the public interest so to do, hereby exempts machines specified in the Table hereto annexed and falling within Chapter 84 of the First Schedule to the Customs Tariff Act, 1975 (51 .....

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..... imported looms specified in the said Table, 75% of the goods produced by such looms shall be exported out of India; and (b) in the case of imported Rotor Spinning Machines specified in the said Table, 75% of the goods produced by such Rotor Spinning Machines shall be exported out of India or the goods so produced shall be utilised in the production of fabrics exported out of India, and (c) the .....

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..... 14 of the Customs Act, 1962, shall be either exported out of India or the goods so produced shall be utilised in the production of fabrics exported out of India, within a period of 5 years from the date of importation of the said machines; and (c) the export obligations mentioned in (a) and (b) of condition (ii)(2) above shall be over and above the average export performance during the precedin .....

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