| Date: |
05-08-1998
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| Notification No: |
Central Excise Notification No 24/1998
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| Issuing Authority: |
Central Excise
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| Type: |
Tariff
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| File No: |
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| Subject: |
Chapter 86: Exemptions (Other than General)
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Chapter 86: Exemptions (Other than General)
Notification No. 24 dated 5th August 1998
In exercise of the powers
conferred by sub-section (i) of Section 5A of the Central Excise Act, 1944 (1 of
1944), the Central Government, being satisfied that it is necessary in the
public interest so to do, hereby exempts marine freight containers, falling
under Chapter 86 of the Schedule to the Central Excise Tariff Act, 1985 (5 of
1986), produced or manufactured in hundred percent Export Oriented Unit or a
unit in an Export Processing Zone or a Free Trade Zone from the whole of the
duty of excise leviable thereon under section 3 of the Central Excise Act, 1944
(1 of 1944), when sold in India for export:
Provided that the unit and
buyer of the marine freight containers executes a bond in such form and for such
sum as may be specified by the Assistant Commissioner of Customs incharge of the
hundred percent Export Oriented Unit or Export Processing Zone or Free Trade
Zone, binding themselves to export the said containers within six months from
the date of clearances from the hundred percent Export Oriented Unit or Export
Processing Zone or Free Trade Zone and to furnish documentary evidence thereof
to the satisfaction of Assistant Commissioner of Customs and to pay the duty
leviable thereon in the event of the failure of the said buyer to export the
said marine freight containers:
Provided further that the
aforesaid period of six months may, on sufficient cause being shown, be extended
by the Assistant Commissioner of customs for the further period not exceeding
six months.
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