Exemption from Customs Duty and Sales Tax on Import of Such Plant and Machienry Excluding Locally Ma

EXEMPTION FROM CUSTOMS DUTY AND SALES TAX ON IMPORT OF SUCH PLANT AND MACHINERY EXCLUDING LOCALLY MANUFACTURED AS ARE IMPORTED FOR THE ESTABLISHMENT OF THE APPROVED PROJECTS FOR MANUFACTURER OF SPECIFIC PROJECTS FOR MANUFACTURE OF SPECIFIC PHARMACEUTICAL GOODS 25Notification No. S.R.O. 545(I)/89, dated 3rd June, 1989.---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), and in supersession of this Ministry's Notification No. SRO 502(I)/84, dated the 14th June, 1984, the Federal Government is pleased to exempt from whole of the customs duties and sales tax leviable on such plant and machinery excluding those manufactured locally, as are imported for the establishment of the approved projects for manufacture of pharmaceutical raw materials specified in Part-A of the Annex to this Ministry's Notification No. SRO 349(I)/85, dated the 15th April, 1985, from such chemicals which are available in the international market without any franchise subject to the following conditions, namely:-- The plant and machinery shall be as defined hereunder:- "Machinery" means-- machinery, operated by power of any description, such as is used in any industrial process for the manufacture of goods; apparatus and appliances, including metering and testing apparatus and appliances specifically adapted for use in conjunction with machinery specified in item (a) above; mechanical and electrical control and transmission gear adapted for use in conjunction with machinery specified in item (a) above; and components parts of machinery as specified in items (a), (b) and (c) above, identifiable as for use in or with such machinery, but excluding maintenance spares for current use. the importer shall produce a certification from the Ministry of Health or an officer duly authorised by the Ministry in this behalf, that the plant and machinery are meant for the manufacture of specified pharmaceutical raw materials from such chemicals as are importable without any franchise; the importer shall, at the time of importation, furnish an indemnity bond in the form set out below to the extent of customs duties and sales tax exempted under this notification. The said indemnity bond will be discharged subsequently on production of a certificate within one year from the date of importation of the plant and machinery from the Assistant Collector, Customs & Central Excise in whose jurisdiction the unit is located to the effect that the plant and machinery as declared to the customs have been duly installed for the said purpose; and the plant and machinery shall not be put to any use other than the manufacture of the approved pharmaceutical raw material FORM [See Conditions (iii)] (on appropriately stamped non-judicial paper) INDEMNITY BOND THIS DEED OR INDEMNITY is made on the ________day of 19________ BETWEEN Messrs_______________________having registered office at ________________________(hereinafter called"the importers" which means and includes their successors, administrators, executors and assignees) of the one part, AND the President of Pakistan through the Collector of Customs______________________(hereinafter called " Collector of Customs") of the other part; WHEREAS, in accordance with the Government of Pakistan's decision contained in this Notification No. S.R.O________(I)/89, dated the _____allowing release of the machinery mentioned in the annex appended hereto imported vide B/E No.._____ dated _________without recovery of so much of the customs duties and sales tax as are specified, and subject to the conditions mentioned, in the said Notifications; AND WHEREAS, the machinery imported shall be installed at________and the importers shall produce a certificate from the Assistant Collector, Customs and Central Excise, within one year from the date of importation of the machinery to the effect that the machinery as declared to the Customs have been imported for an approved project for initial installation or extension of the existing unit and has been duly installed in Pakistan at ______ and shall produce such other evidence as the Collector of Customs may, require in order to establish such installation. In case of failure to furnish such a certificate or evidence, the importers bind themselves to pay to the Collector of Customs the sum of Rs______ (Rupes_______________) being the customs duties leviable on the machinery imported by the importers within fourteen days of receipt of the demand notice from the Collector of Customs; NOW THESE PRESENTS WITNESS that in pursuance of this BOND, the importers___________hereby agree to indemnify the said Collector of Customs from loss of revenue to the extent of Rs_____(Rupees)___________ as aforesaid and also against costs and expenses which may be incurred by the Collector of Customs in recovery of the above amount of revenue; It is further agreed that the above amount may be recovered 22[under] section 202 of the Customs Act, 1969 if the importers fail to abide by any condition laid down in the above said Notification; THIS INDEMNITY BOND shall be cancelled as soon as the above said certificate is produced and the Collector of Customs is satisfied about the installation of the plant in the area as specified in the above said Notification, otherwise it shall remain in full force and virtue. IN WITNESS WHEREOF; M/s.___________________ (Managing Director) (Name and Permanent Address) WITNESS 1._________________(Signature, name, designation and full address)________________ 2._________________(Signature, name, designation and full address)________________ Note:- The witnesses should be Government servants in BPS-16 or above, or an Oath Commissioner, Notary Public or an officer of a Scheduled Bank. SCHEDULE OF MACHINERY 25. Reported as PTCL 1989 St.493