Exemption to specified iron and steel items imported for the purpose of manufacture of machinery

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....f section 25 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 the goods specified in column (2) of the Table hereto annexed and falling within Chapter 72 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India for the purpose of manufacture of machinery falling un....

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....ing in the small scale sector. 2. The importer furnishes an undertaking to the effect that- (a) the imported steel shall be used for the purpose specified above; (b) an account of the said imported steel utilised in the manufacture of machinery shall be maintained in the manner specified by the Assistant Collector of Customs; (c) he shall produce the extract of such account evidencing receipt ....