Concessional rate of duty on Machinery, equipment or tools taken on lease when re-exported after use

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.... duty leviable thereon as is specified in column (3) of the said Table, subject to the limitations and conditions specified in column (2) thereof, namely: - TABLE1 Description of Goods Limitations and conditions Extent of exemption goods 1 2 3 Machinery, equipment or tools, falling under Chapters 84, 85, 90 or any other Chapter of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975). (1) the goods have been taken on lease by the importer for use after import; (2) the importer makes a declaration at the time of import that the goods are being imported temporarily for execution of a contract; (3) the said goods are re-exported within three months of the date of such import or within such extended period not exceeding 18 ....

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....culated at the rate of fifteen per cent.; (iii) goods which are re-exported after six months, but within nine months, of the date of import, so much of the duty of customs as is in excess of the amount calculated at the rate of twenty five per cent.; (iv) goods which are re-exported after nine months, but within twelve months, of the date of import, so much of the duty of customs as is in excess of the amount calculated at the rate of thirty per cent.; (v) goods which are re-exported after twelve months, but within fifteen months, of the date of import, so much of the duty of customs as is in excess of the amount calculated at the rate of thirty five per cent.; (vi) goods which are re-exported after fifteen months, but within eighteen m....

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....said period for re-export, the importer shall pay the difference between the duty payable under clause(ii) in column (3) and the duty already paid at the time of importation; and (5) the importer executes a bond, with a bank under guarantee, undertaking - (a) to re-export the said goods within six months of the date of importation or with in the aforesaid extended period; (b) to produce the goods before the Assistant Commissioner of Customs or Deputy Commissioner of Customs for identification before re-export; (c) to pay the balance of duty, along with interest, at the rate fixed by notification issued under section 28AB of the said Customs Act,1962, for the period starting from the date of importation of the said goods and ending with ....