Delivery Against Bank/ Insurance Guarantee Equal to the Amount of Customs Duty and Sales Tax Levy Ab

DELIVERY AGAINST BANK / INSURANCE GUARANTEE EQUAL TO THE AMOUNT OF CUSTOMS DUTY AND SALE TAX LEVIABLE ON RAW MATERIAL AND COMPONENTS OF BOILER AS ARE IMPORTED BY A RECOGNIZED MANUFACTURER OF BOILER 9Notification No. S.R.O. 507(I)/89, dated 3rd June, 1989.--In exercise of the power conferred by section 21 of the Customs Act, 1969 (IV of 1969), and section 27F of the Sales Tax Act, 1951 (III of 1951), and in supersession of Board's Notification No. S.R.O.16(I)/84, dated the 31st December, 1983, the Central Board of Revenue is pleased to authorize delivery against bank / insurance guarantee equal to the amount of customs duty and sales tax leviable on raw material and components of boilers as are not manufactured in the country, if the imported by a recognized and manufacturer of boiler subject to the following conditions, namely:- the manufacturer shall have suitable in-house facilities to manufacture boilers; the manufacturer shall furnish to the Chief Survey and Rebate or any other officer authorized by the Central Board of Revenue in this behalf in the prescribed form the list of various types of boilers, which he is manufacturing or intends to manufacture along with the details of raw materials required, and the Chief Survey and Rebate, or such authorized 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 type of boiler and the total annual requirement of raw material and components along with the quantity required for the manufacture of each type of boiler; the manufacturer shall chalk out deletion programme spreading over a maximum period of five years within which period he shall achieve a minimum period of five years within which period he shall achieve a minimum deletion in the manufacture of components to the extent of 75% of the C&F value of the inputs of the manufactured items. Continued availability of the exemption under this notification shall be contingent upon (a) the achievement of progressive annual deletion as approved by the Central Board of Revenue or the Ministry of Industries as the case may be and (b) the use of locally manufactured deleted items; at the time of import of raw material 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 condition (ii) and (iii) and he has achieved deletion level as per condition (iii); the manufacturer shall maintain record of the raw materials and components and the boiler manufactured out of them in such form as may be prescribed by the Central Board of Revenue; the manufacturer shall, within one year of the date of importation of the raw material and components, 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 Customs, within whose jurisdiction the manufacturing unit is located and a registration certificate issued by the Chief Inspector of Boiler; and In case the Assistant Collector, Central Excise and Customs is 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 and Collector of Customs shall initiate proceedings for encashment of the Bank / Insurance guarantee and penal action for giving false declaration FORM Certificate No.________________dated __________I______________ (Name of Officer)__________________Assistant Collector, Central Excise and Land Customs _________(Place of posting)_________am satisfied that the raw material and components imported by Messrs_____________ under the provisions of S.R.O.________against bank guarantee or insurance guarantee vide bill of entry________No._____dated___________ have been used for the manufacture of __________(Items to be mentioned)_______________in accordance wit the scale laid down by the Chief, Survey and Rebate vide certificate No________________dated_______________________ I am also satisfied that all the deleted components have been manufactured locally Stamp and Signature 9. Reported as PTCL 1989 St. 503.