Ntf No. 06/2001-Cus Dated 24/01/2001

Notification No. 6/2001-Customs Dated 24/01/2001
WHEREAS in the matter of Gamma Ferric Oxide, falling under sub-heading No. 2821.10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), the Director General (Safeguard), vide his final findings, published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), dated the 20^th December, 2000 has come to the conclusion that increased imports of Gamma Ferric Oxide and it will be in public interest to impose safeguard duty for a period of two and a half years, on imports of Gamma Ferric Oxide into India;

Now therefore, in exercise of the powers conferred by sub-section (1) of section 8B of the Customs Tariff Act, 1975 (51 of 1975), read with rules 12 and 14 of the Customs Tariff (Identification and Assessment of SafeguardDuty) Rules, 1997, the Central Government after considering the said findings of the Director General (Safeguards), hereby imposes on Gamma Ferric Oxide, falling under sub-heading No. 2821.10 of the First Schedule to the said Customs Tariff Act, when imported into India, a safeguard duty at the rate of -

1. 23% ad valorem, if imported upto and inclusive of the 23^rd day of January, 2002;
2. 20% ad valorem, if imported on or after the 24^thday of January, 2002 but not later than the 23^rd day of January, 2003; and
3. 15% ad valorem, if imported on or after the 24^th day of January, 2003 but not later than 23^rd day of July, 2003.

2. Nothing contained in this notification shall apply to imports of Gamma Ferric Oxide made -
   1. under an Advance Licence, subject to the condition that the said Gamma Ferric Oxide shall not be disposed of or utilized in any manner except for utilization in discharge of export obligation, or for replenishment of article so utilized and the article so replenished shall not be sold or transferred to any other person;
   2. from countries notified as developing countries under the clause (a) of sub-section (6) of section 8B of the said Customs Tariff Act.

Explanation - In this notification, "Advance Licence" means,-

1. Quantity Based Advance Licence issued in terms of paragraph 50 of the Export and Import Policy 1^st April, 1992- 31^st March 1997 published vide public notice of the Government of India in the Ministry of Commerce No. 1-ITC(PN)/92-97, dated the 31^st March, 1997, as amended from time to time, and endorsed with non-transferable and actual user condition; or
   
   
2. Quantity Based Advance Licence issued in terms of paragraph 7.4 of the Export and Import Policy 1^st April, 1997- 31^st March 2002 published vide public notice of the Government of India in the Ministry of Commerce No. 1/1997-2002, dated the 31^st March, 1997, as amended from time to time; or
   
   
3. Annual Advance Licence issued in terms of paragraph 7.4A of the Export and Import Policy 1^st April, 1997- 31^st March 2002 published vide notification of the Government of India in the Ministry of Commerce No. 1/1997-2002, dated the 31^st March, 1997, as amended from time to time.

F.No.345/26/2000-TRU

Sd/-
G.D. LOHANI
UNDER SECRETARY TO THE GOVERNMENT OF INDIA