Prior registration for project import contracts governed concessional customs duty, and late registration defeated the claim for relief.

Concessional duty under Item 72A of the Customs Tariff Act was available only where the project import contract complied with the Project Import (Registration of Contracts) Regulations, 1965. Prior registration was a statutory condition, and the benefit could not be claimed when the contract was registered only after the goods had been cleared, especially where the goods had already arrived before the registration application was made. On that basis, the Tribunal's refusal to grant the concession was consistent with the settled legal position, and the importer was not entitled to concessional duty.

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Issues: Whether the importer was entitled to concessional duty under Item 72A of the Customs Tariff Act despite the project import contract not having been registered before clearance of the goods.

Analysis: The benefit of concessional duty was contingent on compliance with the Project Import (Registration of Contracts) Regulations, 1965. The contract had not been registered before the goods were cleared, and the goods had already arrived before the application for registration was made. In view of the statutory requirement of prior registration, the Tribunal's refusal to extend the benefit was consistent with the settled legal position.

Conclusion: The importer was not entitled to concessional duty.

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