Exemption from additional duty to goods imported for execution of an export order - 81/95 - Customs -Tariff

Exemption from additional duty to goods imported for execution of an export order Notification No. 81/95-Cus. Dated 31-3-1995 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 the goods imported into India from the whole of the duty of Customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) and from whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act, subject to the following conditions, namely :- (i) that the goods are imported for execution of an export order placed on the importer by the supplier of goods for jobbing, repairing, servicing, restoration, reconditioning or renovation; (ii) that the goods so imported, including resultant products, are re-exported to the supplier of the goods within six months from the date of clearance or within such extended period as the Assistant Collector of Customs may allow : Provided that where the goods are in the nature of patterns, drawings, jigs, tools, fixtures, moulds, tackles and instruments, such goods may be allowed to be retained subject to payment of customs duties leviable as on the date of import without allowing any depreciation if the importer has obtained necessary permission in terms of paragraph 58 of the Export and Import Policy April 1992 - March 1997; (iii) that the goods are utilised only for the discharge of export obligation and no part thereof shall be sold, loaned, transferred or otherwise used or disposed of; (iv) that the F.O.B. value of the resultant products exported is at least 10% more than the C.I.F. value of all goods imported in relation to the said resultant products; (v) that the importer executes a bond with such surety or security and in such form and for such sum as may be specified by the Assistant Collector of Customs binding himself to pay on demand an amount equal to the duty leviable on the goods imported but for the exemption contained herein, in respect of which, the conditions specified in this notification have not been complied with. Explanations. - In this Notification, - (i) "Export and Import Policy April 1992 - March 1997" means the Export and Import Policy 1 April 1992 - 31 March 1997 (revised edition : March, 1995) published vide notification of the Government of India in the Ministry of Commerce No. dated the 31st March, 1995; (ii) "Goods" means raw materials, components, intermediates, consumables, parts, packing materials, patterns, drawings, jigs, tools, fixtures, moulds, tackles, instruments and computer hardware and software, as are directly related to the export order and supplied free of cost by the foreign buyer, and includes second-hand capital goods so supplied. 2. The notification shall come into force on the 1st day of April, 1995.