CUS NTF NO. 84/1994 DATE 01/03/1994
Exemption of Goods imported into India
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 all goods specified in column (2) of the Table hereto annexed, when imported into India, from so much of that portion of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table, subject to the conditions, if any, specified in the corresponding entry in column (4) of the said Table.
TABLE
| S. No. | Description of goods | Rate of Duty | Condition |
|---|
| (1) | (2) | (3) | (4) |
|---|
| 1. | Braille watches and Braile one-day alarm clock falling within Chapter 91 or sub-heading No. 9804.90 of the said First Schedule | 10% ad valorem | |
| 2. | Components parts and cases of braille watches falling within Chapter 91 of the said First Schedule | 10% ad valorem | (i)The goods are imported for the manufacture of braille watches
(ii)the importer executes a bond in such form and for such sum as may be prescribed by the Assistant Commissioner of Customs, binding himself to pay on demand, in respect of such parts as are not proved to the satisfaction of the Assistant Commissioner of Customs to have been used for the aforesaid purpose, an amout equal to the difference between the duty leviable on such parts but for the exemption contained herein and hat already paid at the time of importation. |
| 3. | Components of mechanical wrist watches and quartz analog wrist watches falling within Ch.91 of the First Schedule, other than the following namely:-
(a) Dial
(b) Dial
(c) Dial ring
(d) Appliques
(e) Bezel
(f) Back-cover
(g) Bezel
(h) Movement
(i) crown
(j) stem pipe
(k) crystal (with or without tension ring)
(l) O-ring (or gasket)
(m) Hands
(n) complete watch
(o) spring bar / sick bar | 25% ad valorem | (i)The said components are imported for manufacture of the said wrist watches;
(ii)the importer executes a bond in such form and for such sum as may be specified by the Assistant Commissioner of Customs, binding himself to pay on demand, in respect of such quantity of the said imported componets as is not proved to the satisfaction of the Assistant Commissioner of Customs to have been used for the afore said purpose, an amount equal to the difference between the duty leviable on such components but for the exemption contained herein and that already paid at the time of importation; and
(iii) the importer produces within such period as the Assistant Commissioner of Customs may specify in this behalf, a certificate from the Assistant Commissioner of Central Excise in whose jurisdiction the factory manufacturing such wrist watches is situated, to the effect that the said imported components have been used in the manufacture of the said wrist watches. |
| 4. | Omitted | |
| 5. | Components parts of electronic modules (including semi-knocked down packs and completely knocked down packs) of digital, analogue digi-ana and similar combination type electronic wrist watches | 25% ad valorem | (i)The said component parts are imported for the manufacture of such electronic module.
(ii) the importer executes a bond in such form and for such sum as may be prescribed by the Assistant Commissioner of Customs, binding himself to pay on demand, in respect of such parts as are not proved to the satisfaction of the Assistant Commissioner of Customs to have been used for the aforesaid purpose, an amout equal to the difference between the duty leviable on such parts but for the exemption contained herein and hat already paid at the time of importation.
(iii) the importer produces within such period as the Assistant Commissioner of Customs may specify in this behalf, a certificate from the Assistant Commissioner of Central Excise in whose jurisdiction the factory manufacturing such wrist watches is situated, to the effect that the said imported components have been used in the manufacture of the said electronic modules. |
AS AMENDED BY 58/95, 101/95
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