Cus Ntf No.54/2002 Dt.22/05/2002
Amendments in the Ntf.No.21/2002-Customs,dated the 1st March, 2002 seeking to exempt dies for drawing metal when imported after repairs from abroad, in exchange of similar worn out dies exported out of India for repairs.In exercise of the powers conferred by sub-section (1) of the 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 makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue),
No. 21 / 2002-Customs, dated the 1st March, 2002, namely:-
In the said notification,-
(1) in the Table, after S. No. 212 and the entries relating thereto, the following S. No. and the entries shall be inserted, namely:-
| (1) | (2) | (3) | (4) | (5) | (6) |
|---|
| "212A | 82 | Dies for drawing metal, when imported after repairs from abroad, in exchange of similar worn-out dies exported out of India for repairs | 30% | - | 28A"; |
|---|
(2) in the
Annexure, after Condition No. 28 and the entries relating thereto, the following Condition No. and the entries shall be inserted, namely:-
| Condition No. | Conditions |
|---|
| "28A | If,-
(1) the dies for drawing metal, acquired in exchange, are imported within one year of the date of exportation of similar dies out of India for repairs; and
(2) no drawback of duty has been paid on the occasion of their export.
Explanation.- On the imports referred to in condition (1) above, the duty would be leviable as if the value of the said dies were equal to-
(i) the aggregate of-
(a) labour charges for such repair;
(b) cost of materials used in such repair ;
(c) any other charges paid by the importer for repair of such dies; and (ii) the insurance and freight charges, both ways.". |
Vivek Prasad
Under Secretary to the Government of India
F.No.446/29/2001-Cus.IVNote : The principal notification was published in the Gazette of India, Extraordinary, vide notification No. 21/2002-Customs, dated the 1st March, 2002 [G.S.R. 118(E), dated the 1st March, 2002] and was last amended vide notification
No. 52/2002- Customs, dated the 13th May, 2002, [G.S.R. 364(E), dated the 13th May, 2002].
(Ntf No.21/2002-Cus date 1st March,2002 was last amended vide Cus Ntf No.63/2002 Date 18/06/2002)Presented by eximkey.com