CUS NTF NO. 20/2012 DATE 17/03/2012
- Document type
- Notification
- Reference no.
- N
- Dated
- Category
- Tariff
Seeks to specify new duty structure on dredgers imported for dredging operations in India proportional to their period of stay.
Seeks to specify new duty structure on dredgers imported for dredging operations in India proportional to their period of stay.
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), read with sub-section (1) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts dredgers falling under heading 8905 10 00 of the First Schedule to the said Customs Tariff Act, when imported into India, -
(a) from the whole of the duty of customs leviable thereon under the said First Schedule; and
(b) from that portion of the additional duty of customs leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, as is in excess of one hundred twentieth part of the applicable duty for each month or part thereof for which the dredger has been granted a licence by the Director General of Shipping for stay in India.
Explanation.- For the purposes of this notification, “applicable duty” shall mean the additional duty leviable under sub-section (1) of section 3 of the said Customs Tariff Act read with relevant notification for the time being in force issued under sub-section (1) of section 25 of the said Customs Act.
[F.No.334/1/2012-TRU]
(Raj Kumar Digvijay)
Under Secretary to the Government of India