Customs exemption for specified textile machinery conditional on export obligations and bonded monitoring for compliance. Concessional customs treatment is provided for specified new textile machines on import by capping ad valorem duty and exempting additional duty, conditional on production of certification and a bond evidencing export linked obligations. Export obligations may be framed as a required proportion of goods produced to be exported or used in exported fabric manufacture, or as an aggregate export value multiple of the machines' customs value to be achieved within a fixed term; such obligations run for a prescribed period and must be monitored and enforced under instructions of the controlling authority.
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Provisions expressly mentioned in the judgment/order text.
Customs exemption for specified textile machinery conditional on export obligations and bonded monitoring for compliance.
Concessional customs treatment is provided for specified new textile machines on import by capping ad valorem duty and exempting additional duty, conditional on production of certification and a bond evidencing export linked obligations. Export obligations may be framed as a required proportion of goods produced to be exported or used in exported fabric manufacture, or as an aggregate export value multiple of the machines' customs value to be achieved within a fixed term; such obligations run for a prescribed period and must be monitored and enforced under instructions of the controlling authority.
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