CA Bimal Jain

Seeks to exempt part of customs duty on import of Urea under Urea Off-Take Agreement between the Government of India and Oman-India Fertilizer Company S.A.O.C.

The Central Government vide Notification No. 04/2015-Customs dated February 16, 2015, has exempted ‘Urea’, falling under tariff item no. 3102 10 00 of the First Schedule of the Customs Tariff Act, 1975 (the Customs Tariff Act) when imported into India under the Urea Off-take Agreement (UOTA) dated May 29, 2002, between the Government of India and Oman-India Fertilizer Company S.A.O.C., from so much of the duty of Customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, and from the so much of the additional duty leviable thereon under Section 3(1) of the Customs Tariff Act, as is in excess of the amount calculated on the declared value of Urea as agreed under the UOTA. However, the exemption shall be provided subject to the condition that the importer shall produce a Certificate prior to clearance of the said goods, from an officer not below the rank of Under Secretary to the Government of India in the Department of Fertilizer before the Assistant Commissioner of Customs or Deputy Commissioner of Customs having jurisdiction, as the case may be to the effect that such declared value is in terms of agreed price under UOTA.

Notification No. 04/2015 – Customs

Dated-16th February, 2015

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 Urea, falling under tariff item 3102 10 00 of the First Schedule to the Customs Tariff Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) when imported into India under the Urea Off-take Agreement (hereinafter referred to as UOTA) dated 29th May, 2002, as amended from time to time, between the Government of India and Oman-India Fertilizer Company S.A.O.C., from so much of the duty of customs leviable thereon which is specified in the First Schedule to the Customs Tariff Act, and from the so much of the additional duty leviable thereon under sub-section (1) of section 3 of the Customs Tariff Act, as is in excess of the amount calculated on the declared value of Urea as agreed under the UOTA,  subject to the condition that the importer shall produce, prior to clearance of the said goods, before the Assistant Commissioner of Customs or Deputy Commissioner of Customs having jurisdiction, as the case may be, a certificate from an officer not below the rank of Under Secretary to the Government of India in the Department of Fertilizer to the effect that such declared value is in terms of  agreed price under UOTA.

[F.No.354/355/2014 –TRU]

(Akshay Joshi)

Under Secretary to the Government of India

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Category : Custom Duty (6946)
Type : Notifications (15807) Notifications/Circulars (31837)

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