Notification No. 196/1994, Dated 8th Dec 1994

Goods for use in aquaculture farms and on export of aquaculture products produced therefrom - exemption on import

8-12-1994

        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 goods specified in the Table below (hereinafter referred to as the goods), when imported into India, or procured from a Public Warehouse or a Private Warehouse appointed or licensed, as the case may be, under section 57 or section 58 of the said Customs Act, or procured from international exhibitions held in India, for use in an aquaculture farm in connection with the operational requirements of such acquaculture farm and for export of aquaculture products produced from such goods (hereinafter referred to as the said purpose) by hundred per cent Export Oriented Units approved by the Board of Approvals for hundred per cent Export Oriented Undertakings, appointed by the notification of Government of India in the former Ministry of Industry and Civil Supplies, (Department of Industrial Development) No. S.0.163(E)/RLIU/10(2)76, dated the 3rd March, 1976 or the Development Commissioner concerned as the case may be (hereinafter referred to as the Board), from the whole of the 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 necessary approval for the import of the goods for the said purpose;

        (2) the importer at the time of import or procurement of the said goods, executes a bond in such a form and for such a sum as may be prescribed by the Assistant Commissioner of Customs or Deputy Commissioner of Customs binding himself -

        (a) to produce a Certificate from the Assistant Commissioner of Central Excise or Deputy Commissioner of Central Excise having jurisdiction over his unit certifying receipt of the said goods in the unit and goods having been entered in the record prescribed for this purpose;

        (b) to fulfil the export obligations and comply with the conditions stipulated in this notification and in the Export and Import Policy and to pay on demand an amount equal to the duty leviable on the goods and interest at the rate of fifteen percent per annum on the said duty from the date of importation or procurement of the said goods till the date of payment of such duty, if -

        (i) in the case of capital goods, such goods are not proved to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs to have been installed or otherwise used within the zone or re-exported within a period of one year from the date of importation or procurement thereof or within such extended period not exceeding five years as the Assistant Commissioner of Customs or Deputy Commissioner of Customs .may, on being satisfied that there is sufficient cause for not using  them as above within the said period, allow;

        (ii) in the case of goods other than capital goods, such goods are not proved to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs to have been used in connection with the production or packaging of goods for export out of India or re-exported or cleared for home consumption within a period of one year from the date of importation or procurement thereof or within such extended period as the Assistant Commissioner of Customs or Deputy Commissioner of Customs may, on being satisfied that there is sufficient cause for not using them as above, allow;

        (iii) in the case of -

        (a) goods produced or packaged, such goods have not been exported out of India, and-

        (b) unused goods (including containers, suitable for repeated use) as have not been exported or cleared for home consumption, within a period of one year from the date of importation or procurement of such goods or within such extended period as the Assistant Commissioner of Customs or Deputy Commissioner of Customs may, on being satisfied that there is sufficient cause for not exporting such goods within the said period, allow;

        (iv) in the case of raw materials, components, spares and consumables (other than capital goods) imported or procured duty free, the unit fails to achieve Net Foreign Exchange Earning as a Percentage of Exports (NFEP) and Export Performance (EP) as specified in Appendix-1 of the Export and Import Policy, within one year of importation or procurement of such goods or within such extended period not exceeding one year as