Exemption for imported watch components reduces customs duty subject to certification, use verification and bond obligations. Exemption for specified imported watch components restricts customs duty to the listed ad valorem rates and exempts additional duty, conditioned on certificate of requirement from designated Industrial Advisers, evidence of import under an approved manufacturing programme, post-importation certification of use by the Assistant Collector of Central Excise, and execution of a bond to pay duties on unaccounted quantities; the concession applies to parts used in manufacture of mechanical and quartz analog wrist watches and is time limited.
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 imported watch components reduces customs duty subject to certification, use verification and bond obligations.
Exemption for specified imported watch components restricts customs duty to the listed ad valorem rates and exempts additional duty, conditioned on certificate of requirement from designated Industrial Advisers, evidence of import under an approved manufacturing programme, post-importation certification of use by the Assistant Collector of Central Excise, and execution of a bond to pay duties on unaccounted quantities; the concession applies to parts used in manufacture of mechanical and quartz analog wrist watches and is time limited.
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