Notification No. 26/1995, Dated 16th March 1995

Preferential rates of duty of specified goods imported from Bangladesh, Korea or Sri Lanka under Bangkok Agreement.

16-3-1995

             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 goods falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), and specified, -

        (a) in column (2) against S. No. (I) of the Table hereto annexed when imported into India from Bangladesh, Republic of Korea or Sri Lanka, which has ratified the Bangkok Agreement; or

        (b) in column (2) against S. No. (II) of the said Table when imported into India from Bangladesh which has ratified the Bangkok Agreement,

from so much of that portion of the duty of customs leviable thereon which is specified in the said First Schedule as is in excess of the amount calculated at the rate specified in the corresponding entry in column (3) of the said Table:

        Provided that the importer proves to the satisfaction of the Assistant Commissioner of Customs or Deputy Commissioner of Customs that the goods in respect of which the benefit of exemption under this notification is claimed, comply with the requirements specified in the Customs Tariff (Determination of Origin of Goods under the Bangkok Agreement) Rules, 1976, published with the notification of the Government of India in the Department of Revenue and Banking (Revenue Wing) No. 430-Customs, dated the 1st November, 1976.

Explanation. - In this notification, "Bangkok Agreement" means the First Agreement of Trade Negotiations among Developing Member Countries of the Economic and Social Commission for Asia and the Pacific.