Notification 54/2015

[Asked by Guest]

Hi

We are registered company into Trawler - fishing vessels construction having IEC and Central excise registration. We will import Raw materials(steel plates, Angles etc) and parts(Marine Engine & Gear box) for construction of trawlers. As per customs notifications goods falling under 8902 has been charged Nil rate of duty. However we are not clear on procedure to avail this benefit. Can someone help me to get the clarity.

Thanks in advance!

AI Summary

Duty concession for trawler construction parts requires notification to excise, execution of a bond, and procurement certificate.
Imports of raw materials and parts for trawler manufacture are eligible for nil duty if the importer notifies Central Excise of the intention to claim the concession, executes a bond and provides prescribed security for the duty saved amount, and obtains acceptance of the bond and a procurement certificate from Central Excise; presentation of that procurement certificate to customs enables the concessional importation.