Ntf No. 127/1999 Dated 01-12-1999

CUSTOMS NOTIFICATION No.127/1999 Dated 1st December, 1999

WHEREAS the stock position of wheat in the Central Pool is far in excess of the stock required to be maintained as per the normal buffer stock norms and such excess stock is imposing a financial burden on the Government;

AND WHEREAS imports of wheat continue to take place owing to low international prices resulting in slow off-take of wheat from the Central Pool;

AND WHEREAS there is an urgent need to stimulate off-take of wheat from the Central Pool;

AND WHEREAS the Central Government is satisfied that the import duty leviable on wheat, falling under Chapter 10 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), should be increased and that circumstances exist which render it necessary to take immediate action;

Now, therefore, in exercise of the powers conferred by sub-section (1) of section 8A of the said Customs Tariff Act, the Central Government, hereby directs that the First Schedule to the said Customs Tariff Act shall be amended in the following manner, namely: -

In the said Customs Tariff Act, in the First Schedule, in Chapter 10, against sub-heading Nos.1001.10 and 1001.90, for the entry in column (4) occurring against each of them, the entry ""50% shall be substituted.

Sd/-
(Prashant Kumar Sinha)
Under Secretary to the Government of India