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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 satistied that it is necessary in the public interest so to do, hereby exempts capital equipments, and spare parts required for maintenance of such capital equipment not exceeding 10% of the C.I.F. value of the capital equipments actually imported, when imported into India by an importer undertaking an obligation to receive payments in freely convertible foreign currency for services rendered through the use of such capital equipment.
