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Import Duty Exemption on Parts of Aircrafts
Dated: 03/03/2016
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. 72/94-Customs, dated the 1st March, 1994 published in the Gazette of India, Extraordinary, Part II, Section 3, Sub-section (i), vide number G.S.R. 184 (E) dated the 1st March, 1994, except as respects things done or omitted to be done before such supersession, the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts parts of aircraft falling within the First Schedule to the Customs Tariff Act, 1975 (51 of 1975), when imported into India under the Standard Exchange Scheme, from so much of duty of customs leviable thereon, as is in excess of the duty of customs which would be leviable if the value of the said parts were made up of the Standard Exchange Cost, insurance and freight charges both ways subject to the following conditions, namely:-
Explanation – For the purposes of this notification,-
Source: CBEC, Min of Commerce, Govt. of India
FOR FURTHER ASSISTANCE PLEASE CONTACT–
CP : Mr. Ravi Jha
Mob : +91-9999005379
Email : jha.sravi@gmail.com
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