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of <h1>India Grants Customs Duty Exemptions for Offshore Oil Exploration Equipment in 1989; Rescinded in 1997.</h1> The Central Government of India issued a notification on June 30, 1989, granting customs duty exemptions for specified goods imported for off-shore oil exploration or exploitation. These goods include drilling rigs, equipment, chemicals, and various oilfield and production tools. The exemption applies to duties exceeding 25% ad valorem and additional duties under the Customs Tariff Act, 1975. Importers must provide a certificate from the Ministry of Petroleum and Natural Gas confirming the necessity of these goods for off-shore activities. The notification took effect on July 1, 1989, and was later rescinded on March 1, 1997.
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