NOTIFICATION New Delhi, dated the 23rd July, 1996
No.50/96-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), the Central Government,
being satisfied that it is necessary in the public interest so to do, hereby
exempts equipment, instruments, raw materials, components, pilot plant and
computer software (hereinafter referred to as the said goods) and falling
within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when
imported into India, from the whole of the duty of customs leviable thereon
which is specified in the said First Schedule and from the whole of the
additional duty leviable thereon under section 3 of the said Customs Tariff
Act, when imported for any Research and Development Project (hereinafter
referred to as the said project) undertaken by any company, subject to the
following conditions, namely :-
(a) the said project is undertaken by any company having an in-house
Research and Development unit recognised by the Department of Scientific and
Industrial Research under the Ministry of Science and Technology;
(b) the said project is funded by the Government of India in a Ministry
or Department, as the case may be, and the share of such Ministry or
Department is not less than twenty per cent. of the total cost of the said
project;
(c) a certificate from a Deputy Secretary to the Government of India in
the Concerned Ministry or Department, as the case may be, funding the said
project is produced to the Assistant Commissioner of Customs, in each case, at
the time of importation, indicating -
(i) the total cost of the project;
(ii) the cost of the project shared by such Ministry or Department, as
the case may be;
(iii) the value of the goods already imported under this notification;
(iv) that the goods are imported for the purposes of the said project;
(d) the goods shall not be sold or transferred to any person or other
organisation for a period of five years from the date of their import:
Provided that the exemption under this notification shall be
available to the said goods only upto a value equivalent to the cost of the
said project shared by the Concerned Ministry or Department.
(RAJIV TALWAR)
UNDER SECRETARY TO THE GOVERNMENT OF INDIA
