Urea Import under Urea Off-take Agreement
between India and Oman-India Fertilizer Co. S.A.O.C
[Customs Notification No.
04 dated 16th February 2015]
In exercise of the powers
conferred by sub-section (1) of section 25 of the Customs Act, 1962 (52 of
1962), the Central Government, being satisfied that it is necessary in the
public interest so to do, hereby exempts Urea, falling
under tariff item 3102 10 00 of the First Schedule to the Customs Tariff
Act, 1975 (51 of 1975) (hereinafter referred to as the Customs Tariff Act) when
imported into India under the Urea Off-take Agreement (hereinafter
referred to as UOTA) dated 29th May, 2002, as amended from time to time,
between the Government of India and Oman-India Fertilizer Company S.A.O.C.,
from so much of the duty of customs leviable thereon
which is specified in the First Schedule to the Customs Tariff Act, and from
the so much of the additional duty leviable thereon
under sub-section (1) of section 3 of the Customs Tariff Act, as is in excess of the amount calculated on the
declared value of Urea as agreed under the UOTA, subject to the condition
that the importer shall produce, prior to clearance of the said goods, before
the Assistant Commissioner of Customs or Deputy Commissioner of Customs having
jurisdiction, as the case may be, a certificate from an officer not below the
rank of Under Secretary to the Government of India in the Department of
Fertilizer to the effect that such declared value is in terms of agreed price
under UOTA..
[F.No.354/355/2014 –TRU]