Exemption for bicycle-manufacturing machinery permits limited customs duty relief subject to a binding export obligation and bank guarantee. Exemption for specified bicycle-manufacturing machinery from customs duty above an ad valorem cap and from additional customs duty, conditional on production of a certificate by a senior imports-and-exports officer, execution of a bond undertaking an export obligation to export bicycles of multiple times the value within a fixed period, a bank guarantee backing the bond for a prescribed multiple of the duty difference, and compliance with monitoring instructions issued by the imports-and-exports authority.
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.
Exemption for bicycle-manufacturing machinery permits limited customs duty relief subject to a binding export obligation and bank guarantee.
Exemption for specified bicycle-manufacturing machinery from customs duty above an ad valorem cap and from additional customs duty, conditional on production of a certificate by a senior imports-and-exports officer, execution of a bond undertaking an export obligation to export bicycles of multiple times the value within a fixed period, a bank guarantee backing the bond for a prescribed multiple of the duty difference, and compliance with monitoring instructions issued by the imports-and-exports authority.
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