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Safeguard duty on Acetone
Notification
No. 7 dated 27th January 2000
In
exercise of the powers conferred by sub-section (1) of section 8B of the Customs
Tariff Act, 1975 (51 of 1975), read with rules 12 and 14 of the Customs Tariff
(Identification and Assessment of Safeguard Duty) Rules, 1997, and based upon
the final findings of the Director General (Safeguards) dated the 7th
October, 1999, published in the Gazette of India, Extraordinary, Part II,
Section 3, Sub-section (i), dated the 4th November, 1999, that
increased imports of Acetone and it would be in the public interest to impose
safeguard domestic producers of Acetone and it would be in the public interest
to impose safeguard duty for a period of two years and six months on imports of
Acetone into India, the Central Government after considering the above mentioned
findings of the Director General (Safeguards), hereby imposes on Acetone,
falling under sub-heading 2914.11 of the First Schedule to the said Customs
Tariff Act, when imported into India, a safeguard duty at the rate of -
(1)
28% ad valorem or Rs. 3000 per metric tonne, whichever is lower, if
imported upto and inclusive of the 26th day of January, 2001;
(2)
21% ad valorem or Rs. 2250 per metric tonne, whichever is lower, if
imported on or after the 27th day of January, 2001 but not later than
the 26th day of January, 2002; and
(3)
9% ad valorem or Rs. 965 per metric tonne, whichever is lower, if
imported on or after the 27th day of January, 2002 but not later than
26th day of July, 2002.
2.
Nothing contained in this notification shall apply to imports made -
(a)
under an advance licence, subject to the condition that the exempt article shall
not be disposed of or utilised in any manner except for utilisation in discharge
of export obligation, or for replenishment of article so utilised and the
article so replenished shall not be sold or transferred to any other person;
(b)
from countries notified as developing countries under clause (a) of sub-section
(6) of section 8B of the said Customs Tariff Act, other than South Africa.
Explanation:
In this notification, �Advance Licence� means, -
(i)
Quantity Based Advance Licence issued in terms of paragraph 50 of the Export
and Import Policy 1st April,
1992- 31st March, 1997 published vide public notice of the
Government of India in the Ministry of Commerce No. 1-ITC (PN)/92-97, dated
the 31st March, 1992, as amended from time to time, and endorsed
with non-transferable and actual user condition; or
(ii)
Quantity Based Advance Licence issued in terms of paragraph 7.4 of the Export
and Import Policy 1st April, 1997-31st March, 2002
published vide notification of the Government of India in the Ministry of
Commerce No. 1/1997-2002, dated the 31st March, 1997, as amended
from time to time; or
(iii)
Annual Advance Licence issued in terms of paragraph 7.4A of the Export and
Import Policy 1st April, 1997- 31st March, 2002
published vide notification of the Government of India in the Ministry of
Commerce No. 1/1997-2002, dated the 31st March, 1997, as amended
from time to time.
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