Customs - Exemption - Polyester Made Ups?
AS per Notification No. 12/2012-Cus dated 17.03.2012 (Sl. No. 284), the following goods attract nil rate of Customs Duty:
(a) Zipper, fastener and slider;
(b) Lace;
(c) Velcro tape;
(d) Elastic tape, curtain tape and edge band tape;
(e) Curtain hook;
(f) Button and eyelet;
(g) Tassel;
(h) Bead and sequin;
(i) Insert;
(j) Sample fabric of total length up to 500 Meters imported during one financial year.
Subject to Condition 28 which reads as,
If,-
(a) the goods are imported by a manufacturer of handloom made ups or polyester made ups for use in the manufacture of said goods for export by that manufacturer and the said manufacturer is registered with the handloom Export Promotion Council or Cotton Textile Export Promotion Council or Synthetic & Rayon Textile Export Promotion Council as the case may be;
(b) the total value of goods imported shall not exceed 5 percent of the FOB value of handloom made ups or 1 percent of the FOB value of cotton made ups or polyester made ups as the case may be, exported during the preceding financial year;
(c) the importer produces a certificate from the Handloom Export Promotion Council or Cotton Textile Export Promotion Council or Synthetic & Rayon Textile Export Promotion Council certifying the value of exports made during the financial year mentioned in sub-condition (b), and also the value and quantity of goods already imported under this notification during the current financial year.
Now, the words, "polyester made ups" are amended to read as, "man-made made ups"
Notification No. , Dated: June 12, 2012