Exemption to feature films selected for screening in Indian Panorama Section of the International Film Festival of India

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....ed 1-3-1988 In exercise of the powers conferred by Sub-rule (1) of rule 8 of the Central Excise Rules, 1944, the Central Government hereby exempts all prints of such feature films, falling under Heading No. 37.06 of the Schedule to the Central Excise Tariff Act, 1985 (5 of 1986) as are purchased by the Directorate of Film Festival of the National Films Development Corporation, Bombay, on behalf....

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....pay the duty which would have been levied thereon but for the exemption contained herein : Provided further that the said National Film Development Corporation may sell or otherwise dispose of films so purchased, subject to the condition that it shall, within a month of such sale or disposal, - (a) intimate to the proper officer the circumstances leading to such sale or disposal; and (b) ....