Exemption from Customs Duty and Sales Tax on Import of Raw Materials and Components Imported by Rego

EXEMPTION FROM CUSTOMS DUTIES AND SALES TAX ON IMPORT OR RAW MATERIALS AND COMPONENTS IMPORTED BY RECOGNISED INDUSTRIAL UNIT FOR THE MANUFACTURE OF CYCLE PARTS 79Notification No. S.R.O. 498(I)/84 dated 14th June, 1984.--In exercise of the powers conferred by section 19 of the Customs Act, 1969 (IV of 1969), and sub-section (1) and (2) of section 7 of the Sales Tax Act, 1951 (III of 1951), the Federal Government is pleased to exempt, on or after the day of issue of this notification, raw materials and components as are not manufactured in the country, if imported by a recognised industrial unit for the manufacture of cycle parts from so much of the customs-duties as are in excess of 50% ad valorem and whole of the sales tax subject to the following conditions, namely:- the manufacturer shall have suitable in-house facilities to undertake basic manufacture of cycle parts; the manufacturer shall furnish to the Chief, Survey and Rebate or any other officer authorised by the Central Board of Revenue in this behalf in the prescribed form the list of goods that he is manufacturing or intends to manufacture alongwith details of the raw materials required and the Chief or such authorised officer in consultation with the Collector of Customs or the concerned Government Department will certify the annual capacity of the unit for the manufacture of various types of raw materials alongwith the quantity required for the manufacture of each cycle part; 80[iii) the manufacturer shall follow the deletion programme as approved by the Ministry of Industries, continued availability of the exemption under this Notification shall be contingent upon; the achievement of progressive annual deletion as approved by the Ministry of Industries; and the use of locally manufactured deleted items;] 81[(iii-A) at the time of import of raw materials and components the manufacturer shall make a written declaration on the bill of entry to the effect that the raw materials and components have been imported in accordance with his entitlement in terms of conditions (ii) and (iii) and that the he has achieved deletion level as per condition (iii);] the manufacturer shall furnish to the Collector of Customs a bank guarantee or insurance guarantee equivalent to the customs-duties and sales tax leviable on each consignment in excess of 50% ad valorem or a standing bank guarantee or insurance guarantee for covering multiple consignments subject to the satisfaction of the Collector of Customs undertake to abide by the conditions laid down in this Notification failing which he would pay the amount of customs-duties and sales tax exempted under this Notification and make payment of any penalties that may be imposed by the Collector of Customs in this behalf; the manufacturer shall maintain record of the raw materials and cycle parts manufactured out of them in such form as may be prescribed by the Central Board of Revenue; 82[***] the manufacturer shall, within one year of the date of importation of the raw materials apply to the Collector of Customs for discharging the bank guarantee or insurance guarantee, the application being supported by a certificate in the form set out below issued by the Assistant Collector, Central Excise and Land Customs, within whose jurisdiction the manufacturing unit is located; 83[; and] 84[(viii) in case the Assistant Collector, Central Excise and Customs, in not satisfied regarding the consumption of imported items or use of locally produced deleted items, he shall report his findings to the Collector of Customs concerned who shall initiate proceedings for enforcement of the guarantee and penal action for giving false declaration.] 85[FORM Certificate No. _______________ dated ________________________________ I ______ _____(Name of the Officer) ________________ Assistant Collector of Central Excise and Customs ____________(Place of posting) _______ am satisfied that the raw materials imported by Messrs _____ _________________________under provisions of SRO ______________ against bank guarantee or insurance guarantee vide bill of entry No ._______________ dated the _________________have been used for the manufacture of ____________(Name of items to be mentioned)___________ in accordance with the scale laid down by the Chief (Survey & Rebate), vide certificate No _________________ dated the _______________________. I am also satisfied that all the deleted components have been manufactured locally. Stamp and Signature] *** For original un-amended Notification see PTCL 1984 St.439. Conditions (iii) substituted by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989. Conditions (iii-A) substituted by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989. Word "and" omitted by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989. Substituted for full stop by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989. Condition (vii) added by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989. Form substituted by Notification No. S.R.O. 994(I)/89, dated 30th September, 1989.