Duty concession for specified rubber-belt machinery, subject to export-bond and bank-guarantee conditions. Exempts specified machinery imported for rubber belt manufacture from customs duty above a 35 percent ad valorem rate and from additional duty, conditional on a certificate from a Joint Chief Controller of Imports and Exports evidencing a bond to export rubber belts of three times the value within five years, backed by a bank guarantee of 150 percent of the duty differential, and agreement to comply with monitoring instructions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Duty concession for specified rubber-belt machinery, subject to export-bond and bank-guarantee conditions.
Exempts specified machinery imported for rubber belt manufacture from customs duty above a 35 percent ad valorem rate and from additional duty, conditional on a certificate from a Joint Chief Controller of Imports and Exports evidencing a bond to export rubber belts of three times the value within five years, backed by a bank guarantee of 150 percent of the duty differential, and agreement to comply with monitoring instructions.
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