New Delhi, the 17th March, 2012
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-section (1) of section 3 of the Customs Tariff Act, 1975 (51 of 1975), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby exempts dredgers falling under heading 8905 10 00 of the First Schedule to the said Customs Tariff Act, when imported into India, -
(a) from the whole of the duty of customs leviable thereon under the said First Schedule; and
(b) from that portion of the additional duty of customs leviable thereon under sub-section (1) of section 3 of the said Customs Tariff Act, as is in excess of the duty calculated on the total lease value:
Provided that the aforesaid goods have been taken on lease by the importer for use after import.
(Raj Kumar Digvijay)
Under Secretary to the Government of India