Notification No. 20/2012, Dated 17th March 2012

[TO BE PUBLISHED IN THE GAZETTE OF INDIA, EXTRAORDINARY, PART II, SECTION 3, SUB-SECTION (i)]

Government of India

Ministry of Finance

(Department of Revenue)

New Delhi, the 17th March, 2012

Notification

No. 20/2012-Customs

G.S.R. (E).-In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), read with sub-section (1) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts dredgers falling under heading 8905 10 00 of the First Schedule to the said Customs Tariff Act, when imported into India, -

(a) from the whole of the duty of customs leviable thereon under the said First Schedule; and

(b) from that portion of the additional duty of customs leviable thereon under subsection (1) of section 3 of the said Customs Tariff Act, as is in excess of one hundred twentieth part of the applicable duty for each month or part thereof for which the dredger has been granted a licence by the Director General of Shipping for stay in India.

Explanation.- For the purposes of this notification, “applicable duty” shall mean the additional duty leviable under sub-section (1) of section 3 of the said Customs Tariff Act read with relevant notification for the time being in force issued under sub-section (1) of section 25 of the said Customs Act.

[F.No. 334/1/2012-TRU]

(Raj Kumar Digvijay)