Customs exemption for textile machinery components reduces duty above specified rate, conditional on certification and importer bond. Components imported for manufacture of specified textile machinery are exempted from customs duty in excess of the amount computed at 25% ad valorem and from the additional duty under section 3, provided the Textile Commissioner or an authorised Director certifies the description and quantity of components and the importer executes a prescribed bond to repay duty differences for components not shown to have been used for the specified manufacture.
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Customs exemption for textile machinery components reduces duty above specified rate, conditional on certification and importer bond.
Components imported for manufacture of specified textile machinery are exempted from customs duty in excess of the amount computed at 25% ad valorem and from the additional duty under section 3, provided the Textile Commissioner or an authorised Director certifies the description and quantity of components and the importer executes a prescribed bond to repay duty differences for components not shown to have been used for the specified manufacture.
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