Notification No. 307/1992, Dated 28th Dec 1992

Name: Seair Exim Solutions
Address: B1/E3 Mohan Cooperative Industrial Estate Near Mohan Estate Metro Station Opposite Metro Pillar No:-336, NH-19, New Delhi, Delhi, 110044, IN
Telephone: +91 99900 20716
Price range: $2500

Notification No. 307/92-Cus., dated 28-12-1992
Exemption to capital goods imported by specified importer under Export
Promotion Capital Goods (EPCG) Scheme.
        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 of the description specified in column (2) of the Table annexed hereto when imported into India by an importer specified in column (3) of the said Table from so much 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 (4) of the said Table and the 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 covered by a valid licence issued on or before 30th April, 1995 under the Export Promotion Capital Goods (E.P.C.G.) Scheme in terms of para 46 of the Export and Import policy (hereinafter referred to as the Policy) and the said licence is produced for debit at the time of clearance;
        (ii) that the said licence specifies, inter alia -
        (a) the description, quantity and value of goods allowed to be imported under the said licence,
        (b) the description and quantity of the capital goods to be assembled or manufactured;
        (iii) that the importer at the time of clearance, shall produce to the Assistant Commissioner of Customs or Deputy Commissioner of Customs, a certificate from the Licensing Authority for having executed a bond under paragraph 45 of the policy; and
        (iv) that the importer at the time of clearance of the goods shall make a declaration before the Assistant Commissioner of Customs, in such form as the said Assistant Commissioner may specify, binding himself to pay on demand an amount equal to the duty leviable on such goods but for the exemption contained herein in respect of which the conditions specified in the columns (2) and (3) of the Table are not complied with.

TABLE

S. No.	Description of goods	Description of importer	Rate of duty
1.	2.	3.	4.
1.	Capital goods in SKD/CKD condition or components of capital goods required for assembly or manufacture of capital goods; and spare parts not exceeding 10% of the value of such capital goods in SKD/ CKD condition or components of capital goods actually imported and required for the maintenance of capital goods so assembled or manufactured.	Importer undertaking an export obligation equivalent to three times the C.I.F. value of the goods specified in column (2) over a period of four years under paragraph 38 of the Policy.	25% ad valorem
2.	Capital goods in SKD/CKD condition or components of capital goods required for assembly or manufacture of capital goods; and spare parts not exceeding 10% of the value of such capital goods in SKD/ CKD condition or components of capital goods actually imported and required for the maintenance of capital goods so assembled or manufactured.	Importer undertaking an export obligation equivalent to four times the C.I.F. value of the goods specified in column (2) over a period of five years under paragraph 38 of the Policy.	15% ad valorem

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Notification No. 307/1992, Dated 28th Dec 1992

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