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Exemptions to Dies for Drawing Metal
Customs
Notification No. 54 dated 22nd May 2002
In
exercise of the powers conferred by sub-section (1) of the 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 makes the following further
amendments in the notification of the Government of India in the Ministry of
Finance (Department of Revenue), No. 21/ 2002-Customs, dated the 1st
March, 2002, namely: -
In
the said notification, -
(1)
in the Table, after S. No. 212 and the entries relating thereto, the
following S. No. and the entries shall be inserted, namely: -
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(1)
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(2)
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(3)
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(4)
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(5)
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(6)
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"212A
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82
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Dies
for drawing metal, when imported after repairs from abroad, in exchange of
similar worn-out dies exported out of India for repairs
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30%
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-
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28A";
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(2)
in the Annexure, after Condition No. 28 and the entries relating thereto,
the following Condition No. and the entries shall be inserted, namely: -
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Condition
No.
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Conditions
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"28A
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If,
-
(1)
the dies for drawing metal, acquired in exchange, are imported within one
year of the date of exportation of similar dies out of India for repairs;
and
(2)
no drawback of duty has been paid on the occasion of their export.
Explanation:On the imports referred to in condition
(1) above, the duty would be leviable as if the value of the said dies
were equal to-
(i)
the aggregate of-
(a) labour charges for such repair;
(b) cost of materials used in such repair;
(c)
any other charges paid by the importer for repair of such dies; and
(ii)
the insurance and freight charges, both ways.�
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