TaxTMI 
TaxTMI 
Exemption to specified goods imported for purpose of development of software for export
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....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 goods specified in the Table below (hereinafter referred to as the goods) when imported into India for the purpose of development of software for export out of India, by the software development units under the Software Technology Parks Hundred per cen....
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....subject to such other conditions as may be specified by the Assistant Collector of Customs in this behalf; (3) the importer exports out of India Hundred per cent or such other percentage, as may be fixed by the Standing Committee, of software developed wholly or partly from the goods for the period stipulated by the Standing Committee or such extended period as may be specified by the Standing Co....
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....eriod referred to in condition (3) the importer shall pay the following duties, namely : - (a) customs duty on capital goods and office equipments on depreciated value at rates prevalent at the time of import; and (b) customs duty on unused imported raw materials or components on the value at the time of import and at rates in force at the time of clearance; (7) the importer executes a bond in ....
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....lopment of software for export; (8) the procedure, as may be prescribed by the Collector of Customs, is followed by such unit. (9) Notwithstanding anything contained in this notification, the exemption contained herein shall also apply to goods which on importation into India are used for the development of software within the unit and such software, even is not exported out of India, are allowe....