Amendment in Notification No. 21/2002 -Customs, dated the 1st March, 2002 (Exemption and effective rate of basic and additional duty for specified goods of Chapter 1 to 99.)

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....e 3^rd May, 2007 13 Vaisakha, 1929 (SAKA) NOTIFICATION No. 61/2007-CUSTOMS G.S.R.  (E).- In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby makes the following further amendments in the notification of the Government of India in the Ministry of Finance (Department of Revenue), No. 21/2002-Customs, dated the 1^st March, 2002 which was published in the Gazette of India, Extraordinary, vide number G.S.R.118 (E) of the same date, namely:- In the said notification,- (A) in the Table,- (i) against S.No.187, for the entry in column (4), the entry "Nil" shall be ....

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....es an undertaking to the Deputy Commissioner of Customs or Assistant Commissioner of Customs, as the case may be, at the time of importation that:- a. the said aircraft shall be used for the specified purpose only and he shall pay on demand, in the event of his failure to use the imported aircraft for the specified purpose, an amount equal to the duty payable on the said aircraft  but for the exemption under this notification; b. the aircraft imported under this concession shall not be sold/transferred  to an entity other than a flying training institute approved by the Directorate General of Civil Aviation. (i) the aircraft are imported by an operator who has been granted approval by the competent authority in ....

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.... is a dedicated company or partnership firm for the above purposes. If,- (i) imported for servicing, repair or maintenance of aircraft imported or procured by Aero Club of India; or (ii) imported for servicing, repair or maintenance of aircraft, which are used for flying training purposes or for operating non-scheduled (passenger) service or non-scheduled (charter) services; (iii) the importer furnishes an undertaking to the Deputy Commissioner of Customs or the Assistant Commissioner of Customs, as the case may be, at the time of importation that:- a. the imported goods shall be used for the specified purpose only; and b. he shall pay on demand, in the event of his failure to use the imported goods for the specified ....