Customs exemption amendment expands the list of exempt textile machinery and extends the exemption period under customs law. The amendment revises the annexed Table to substitute the first entry with an exemption for air jet looms with or without oil free rotary type screw compressors, and inserts exemptions for auto coners, air jet spinning machines (including those suitable for two fold yarns on the air jet principle) and air splicers with ancillary yarn splicing equipment. It also substitutes the previously stated terminal date with a later terminal date, thereby extending the notification's exemption period under Section 25(1) of the Customs Act, 1962.
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Customs exemption amendment expands the list of exempt textile machinery and extends the exemption period under customs law.
The amendment revises the annexed Table to substitute the first entry with an exemption for air jet looms with or without oil free rotary type screw compressors, and inserts exemptions for auto coners, air jet spinning machines (including those suitable for two fold yarns on the air jet principle) and air splicers with ancillary yarn splicing equipment. It also substitutes the previously stated terminal date with a later terminal date, thereby extending the notification's exemption period under Section 25(1) of the Customs Act, 1962.
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