Prescribes duty on polyester films for magnetic tapes

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....Government, being satisfied that it is necessary in the public interest so to do, hereby exempts Balanced/Semi-tensilised/Tensilised Polyester Film of thickness not exceeding 39 microns, falling within Chapter 39 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) when imported in India for the purpose of manufacture of Magnetic tapes, from so much of that portion of the duty of cus....

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....Assistant Collector of Customs, bind himself to pay, on demand in respect of such goods, as are not approved to the satisfaction of the Assistant Collector of Customs to have been used for the aforesaid purpose an amount equal to the difference between the duty leviable on such goods, but for the exemption contained herein and that already paid at the time of importation; and (iii) the importer....