Customs exemption for power transmission components caps payable customs duty at specified ad valorem rate if certification requirements satisfied. Exempts imported components for manufacture of power transmission systems for earth-moving machinery, fork lift trucks and locomotives from customs duty in excess of a 15 per cent ad valorem rate, subject to certification that the components are listed and required, certification that the import is under a Ministry-approved manufacturing programme issued by an Industrial Advisor, and subsequent verification that the components were used for the specified manufacturing purpose within a period set by the Assistant Collector of Customs.
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Provisions expressly mentioned in the judgment/order text.
Customs exemption for power transmission components caps payable customs duty at specified ad valorem rate if certification requirements satisfied.
Exempts imported components for manufacture of power transmission systems for earth-moving machinery, fork lift trucks and locomotives from customs duty in excess of a 15 per cent ad valorem rate, subject to certification that the components are listed and required, certification that the import is under a Ministry-approved manufacturing programme issued by an Industrial Advisor, and subsequent verification that the components were used for the specified manufacturing purpose within a period set by the Assistant Collector of Customs.
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