| Date: |
08-10-1996
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| Notification No: |
CUSTOMS Notification No 79/1996
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| Issuing Authority: |
Indian Customs
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| Type: |
Tariff
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| File No: |
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| Subject: |
Exemption to special Industrial Adhesives, gums and solutions and synthetic diamond powder
|
|
Exemption to special Industrial Adhesives, gums and solutions and
synthetic diamond powder
Notification
No. 79 dated 8th October 1996
In
exercise of the powers conferred by sub-section 1 of section 25 of the Customs
Act, 1962 (52 of 1962) read with sub-clause (4) of clause 66 of Finance (No.2)
Bill, 1996, which clause has, by virtue of declaration made in the said Finance
Bill under the Provisional Collection of Taxes Act, 1931 (16 of 1931), the force
of law, the Central Government being satisfied that it is necessary in the
public interest so to do, hereby exempts special industrial adhesives, gums and
solutions and synthetic diamond powder upto 1% of the Free On Board (FOB) value
of the export of cut and polished diamonds, when imported into India by the
exporters of Cut and Polished diamonds operating under �Diamond Credit Book
Scheme� notified by Government of India, Ministry of Commerce, vide
notification No. 12 (RE-95)/92-97 dated the 1st December, 1995 from -
(i)
the whole of the duty of Customs leviable thereon, which is specified in
the First Schedule to the Customs Tariff Act 1975 (51 of 1975);
(ii)
the whole of the special duty of Customs leviable thereon under clause 66
of the Finance (No.2) Bill 1996; and
(iii)
the whole of the additional duty leviable thereon under section 3 of the
said Customs Tariff Act.
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