NOTIFICATION New Delhi, dated the 23rd July, 1996
No.41/96-CUSTOMS 1 Shravana, 1918 (Saka)
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-clause (4)
of clause 66 of the Finance (No.2) Bill, 1996, which clause has, by virtue
of the declaration made in the said Finance Bill under the Provisional
Collection of Taxes Act, 1931 (16 of 1931), the force of law, the Central
Government, being satisfied that it is necessary in the public interest so
to do, hereby exempts the goods specified in the Table below and falling
within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975),
when imported into India, from the whole of the special duty of customs
leviable thereon under sub clause (1) of clause 66 of the said Finance
Bill:
Provided that in respect of the goods specified against,-
(I) S.No.2 of the said Table, the exemption under this notification shall
be subject to the conditions, subject to which the goods may be imported at
Free rates of duty of customs, specified in section 4 of the said Customs
Tariff Act;
(II) S.Nos.3 and 4 of the said Table, the exemption under this
notification shall be subject to the conditions, if any, subject to which
the goods are exempt either partially or wholly from the duty of customs
leviable thereon which is specified in the First Schedule to the said
Customs Tariff Act.
TABLE
S.No. Description of goods
(1) (2)
1. All goods in the case of which Free rates of duty of customs are
specified in column (4) of the First Schedule to the said Customs Tariff
Act.
2. All goods in the case of which Free rates of duty of customs are
specified in column (5) of the First Schedule to the said Customs Tariff
Act.
3 All goods which are exempt from the whole of the duty of customs
leviable thereon which is specified in the First Schedule to the said
Customs Tariff Act in terms of any notification of the Government of India
in the Ministry of Finance (Department of Revenue and Banking, Department
of Revenue and Insurance or Department of Revenue, as the case may be,) for
the time being in force, issued under sub-section (1) of section 25 of the
Customs Act, 1962.
4. Gold and silver,-
(a) including ornaments (but excluding ornaments studded with stones
or pearls), imported into India or taken delivery by an eligible passenger
in terms of the notifications of the Government of India in the Ministry of
Finance (Department of Revenue) Nos.171/94-Customs and 172/94-Customs, both
dated the 30th September, 1994;
(b) imported in terms of the notification of the Government of India
in the Ministry of Finance (Department of Revenue) No.117/94-Customs, dated
the 27th April, 1994.
( RAJIV TALWAR )
UNDER SECRETARY TO THE GOVERNMENT OF INDIA
