The Gazette of India
EXTRAORDINARY
PART II—Section 3—Sub-section (i)
PUBLISHED BY AUTHORITY
No. 108] NEW DELHI, SATURDAY, JUNE 11, 1966/JYAISTHA 21, 1888
Separate paging is given to this Part in order that it may be filed as a separate compilation.
MINISTRY OF FINANCE
(Department of Revenue and Insurance)
CUSTOMS
New Delhi, the 11th June 1966
G.S.R. 924.—In exercise of the powers conferred by sub-section (1) of section 25 of the Customs Act, 1902 (52 of 1962), the Central Government, being satisfied that it is necessary in the public interest so to do, hereby directs that the goods specified In the Schedule hereunder shall be exempted from the duty of customs leviable thereon under the Second Schedule to the Indian Tariff Act, 1934 (32 of 1934) subject to the following conditions, namely:—
(a) that the goods are sought to be exported under valid contracts with their sale price expressed in foreign currency entered into on or before the 5th June, 1966;
(b) that the contracts referred to in clause (a)—
448 THE k^iZETTE OF INDIA EXTRAORDINARY [PART ll-fitr. 3(1)](c) that the exporter had entered into a forward contract with a bank authorised to deal in foreign exchange in India, for the sale of foreign exchange proceeds of goods exported under the contract* referred to in clauses (a; and (b) on or before the 5th June, 1966;
(d) that the Authorised Dealer in foreign exchange certifies that the ex- porter has entered into a forward contract with him on or before the 5th June, 1966, for the sale of foreign exchange representing the proceeds of goods to be exported and that the rate at which the forward contract was entered into was on the basis of the rate of exchange then current;
(e) that the exporter has agreed to deliver to the said Authorised Dealer the bills of exchange drawn in respect of the aforesaid export In fulfilment of the forward contract for the sale of foreign exchange entered into with the Authorised Dealer;
(f) that the goods are exported on or before the 30th September, 1966; and
(g) that the exporter executes sui^h bond or guarantee or both as the
Collector of Customs may require him to execute in this behalf:
Provided that nothing contained in this notification shall apply unless—
(i) the exporter declares to the Collector of Customs on or before the 18th June, 1966, the balances outstanding against the forward sales of foreign exchange made to Authorised Dealers in respect of the aforesaid contracts, as on the 5th June, 1966;
(ii) the value of the goods to be exported by him under the provisions of this notification does not exceed .the balances referred to in the foregoing clause (i), and
(Hi) the amount of export duty Is not sought to be otherwise added to the price of the goods exported.
THE SCHEDULE
Jute Manufactures (including manufactures of Bimlipatam Jute or of mesta fibre), when not in actual use as coverings, receptacles or bindings, for other goods—
(1) Sacking (cloth, bags, twist, yarn, rope, and twine) (11) Hessians (iii) All other descriptions of Jute Manufactures not otherwise specified.
[No. 118/F. No. Bud.(2)-Cus./86.]
S. K. BHATTACHARJEE, Jt. Secy.