Notification No. 133/1987-Cus Dated 19-03-1987
Exemption relating to specified goods falling under Chapter 89-In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of 1962), and in supersession of the notification of the Government of India in the Ministry of Finance (Department of Revenue) No. 262/58-Customs, dated the 11th October, 1958, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts the goods falling under sub-heading Nos. 8901.10, 8901.20, 8901.30, 8901.90, 8902.00, 8904.00, 8905.10, 8905.90 and 8906.00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India, from, -
(i) the whole of the duty of customs leviable thereon, which is specified in the said First Schedule; and
(ii) the whole of the additional duty leviable thereon under section 3 of the said Customs Tariff Act :
subject to the conditions that -
(a) the exemption under this notification shall not be available to such goods (that is to say, vessels and other floating structures) as are imported for the purposes of breaking up; and
(b) any such goods (that is to say vessels and other floating structures), if subsequently are intended to be broken, the importer shall present a fresh bill of entry to the Collector of Customs, and thereupon such goods shall be chargeable with the duty which would be payable on such goods as if such goods were entered for home consumption under Section 46 of the Customs Act, 1962 (52 of 1962) on the date of the presentation of such fresh bill of entry to the Collector of Customs for the purposes of break-up of such goods.
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