The notification provides effective rate of duty on the Air craft parts imported under standard exchange scheme.

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....owers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts parts of aircrafts falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India under the Standard Exchange Scheme, from so much of duty of customs leviable th....

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....tandard Exchange Agreement; and (vi) the importer, at the time of clearance produces, - (a) a certificate from the exporter to the effect that the imported parts have been s'upplied from a pool of repaired or overhauled parts maintained under the Standard Exchange Scheme and such parts are not new parts; (b) a certificate from the exporter that the Standard Exchange Cost charged for repair ....